Frank Rimerman Advisors LLC Grows Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Frank Rimerman Advisors LLC increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 120.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,961 shares of the company’s stock after buying an additional 10,914 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Conagra Brands were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP increased 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 purchasing an additional 3,133,200 shares during the last quarter. Holocene Advisors LP acquired a new stake in Conagra Brands in the 3rd quarter valued at approximately $65,932,000. State Street Corp increased its holdings in Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new stake in Conagra Brands in the 3rd quarter valued at approximately $46,990,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. 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 report on Friday, December 20th. 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. dropped their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.33.

Conagra Brands Price Performance

Conagra Brands stock opened at $25.66 on Monday. The stock has a market cap of $12.25 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a fifty day simple moving average of $25.68 and a 200-day simple moving average of $28.03. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

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

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.