Congress Wealth Management LLC DE Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Congress Wealth Management LLC DE lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 54.3% in the fourth quarter, HoldingsChannel reports. The firm owned 17,859 shares of the company’s stock after selling 21,204 shares during the period. Congress Wealth Management LLC DE’s holdings in Conagra Brands were worth $496,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares in the last quarter. Community Bank N.A. raised its holdings in Conagra Brands by 1.6% in the fourth quarter. Community Bank N.A. now owns 50,232 shares of the company’s stock valued at $1,394,000 after acquiring an additional 795 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Conagra Brands during the 4th quarter worth $5,034,000. Virtu Financial LLC acquired a new position in Conagra Brands during the 4th quarter worth $235,000. Finally, Summit Global Investments bought a new stake in shares of Conagra Brands in the 4th quarter worth about $6,713,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAG. Morgan Stanley began coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Barclays decreased their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Bank of America dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.20.

Conagra Brands Stock Up 0.4 %

Conagra Brands stock opened at $26.55 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a 50-day simple moving average of $25.63 and a 200-day simple moving average of $27.67. The firm has a market capitalization of $12.67 billion, a P/E ratio of 26.03, a P/E/G ratio of 1.76 and a beta of 0.18.

Conagra Brands Profile

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.