Berkeley Capital Partners LLC Has $571,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Berkeley Capital Partners LLC reduced its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 54.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,562 shares of the company’s stock after selling 24,760 shares during the period. Berkeley Capital Partners LLC’s holdings in Conagra Brands were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CAG. Pacer Advisors Inc. boosted its position in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP boosted its position in Conagra Brands by 106.4% in the third 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. Holocene Advisors LP acquired a new position in Conagra Brands in the third quarter valued at about $65,932,000. State Street Corp boosted its position in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after buying an additional 1,691,945 shares in the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new position in Conagra Brands in the third quarter valued at about $46,990,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Down 0.4 %

CAG opened at $25.91 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market cap of $12.36 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The firm has a 50 day simple moving average of $25.64 and a 200 day simple moving average of $27.94. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

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

Wall Street Analyst Weigh In

A number of research firms have commented on CAG. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Finally, Bank of America dropped their target price on shares of 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 analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.