Charter Research & Investment Group Inc. Decreases Holdings in Conagra Brands, Inc. (NYSE:CAG)

Charter Research & Investment Group Inc. cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 5.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 22,685 shares of the company’s stock after selling 1,262 shares during the quarter. Charter Research & Investment Group Inc.’s holdings in Conagra Brands were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in shares of Conagra Brands by 13.1% during the third quarter. Thrivent Financial for Lutherans now owns 33,456 shares of the company’s stock worth $1,088,000 after buying an additional 3,867 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Conagra Brands by 547.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,099 shares of the company’s stock valued at $68,000 after purchasing an additional 1,775 shares during the last quarter. FMR LLC increased its holdings in shares of Conagra Brands by 4.8% in the third quarter. FMR LLC now owns 1,478,380 shares of the company’s stock valued at $48,077,000 after purchasing an additional 67,079 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Conagra Brands by 113.7% during the third quarter. BNP Paribas Financial Markets now owns 959,968 shares of the company’s stock worth $31,218,000 after purchasing an additional 510,789 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new stake in shares of Conagra Brands during the third quarter worth $283,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Morgan Stanley began coverage on Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price 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. Finally, Barclays reduced their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $28.20.

Conagra Brands Stock Performance

CAG opened at $26.55 on Friday. The stock’s 50 day simple moving average is $25.63 and its 200 day simple moving average is $27.63. The stock has a market cap 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, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. 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 Company 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.