Envestnet Portfolio Solutions Inc. Boosts Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Envestnet Portfolio Solutions Inc. lifted its position in Conagra Brands, Inc. (NYSE:CAG) by 182.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,539 shares of the company’s stock after buying an additional 30,035 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Conagra Brands were worth $1,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CAG. State Street Corp raised its holdings in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after acquiring an additional 618,096 shares in the last quarter. Geode Capital Management LLC boosted its stake in Conagra Brands by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after acquiring an additional 122,590 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Conagra Brands by 106.4% in the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after buying an additional 3,133,200 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 1.0 %

CAG opened at $25.65 on Friday. The business has a 50 day simple moving average of $25.62 and a 200-day simple moving average of $27.86. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The stock has a market capitalization of $12.24 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stifel Nicolaus decreased their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Finally, Bank of America decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average target price of $28.33.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.