NEOS Investment Management LLC Increases Stake in Conagra Brands, Inc. (NYSE:CAG)

NEOS Investment Management LLC boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 30.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,509 shares of the company’s stock after purchasing an additional 6,218 shares during the period. NEOS Investment Management LLC’s holdings in Conagra Brands were worth $736,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Two Sigma Advisers LP lifted its stake in shares of Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after buying an additional 3,133,200 shares during the period. Holocene Advisors LP purchased a new stake in Conagra Brands during the 3rd quarter valued at about $65,932,000. State Street Corp increased 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 valued at $796,229,000 after purchasing an additional 1,691,945 shares during the period. Ilex Capital Partners UK LLP purchased a new position in shares of Conagra Brands in the third quarter worth about $46,990,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Conagra Brands by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock worth $1,631,671,000 after purchasing an additional 1,132,839 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CAG shares. Stifel Nicolaus cut their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Barclays lowered their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.20.

Conagra Brands Stock Performance

Shares of CAG stock opened at $26.55 on Monday. 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, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The business’s 50 day moving average is $25.63 and its two-hundred day moving average is $27.60. The company 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.