KLP Kapitalforvaltning AS Buys Shares of 181,414 Conagra Brands, Inc. (NYSE:CAG)

KLP Kapitalforvaltning AS purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 181,414 shares of the company’s stock, valued at approximately $5,034,000.

A number of other hedge funds also recently made changes to their positions in CAG. State Street Corp raised its stake in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after acquiring an additional 1,691,945 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after buying an additional 122,590 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Conagra Brands by 106.4% during the 3rd 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 during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

CAG stock opened at $25.38 on Wednesday. The firm has a 50-day moving average of $25.60 and a two-hundred day moving average of $27.73. The firm has a market capitalization of $12.11 billion, a PE ratio of 24.88, a P/E/G ratio of 1.76 and a beta of 0.18. 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 one year low of $23.06 and a one year high of $33.24.

Analyst Ratings Changes

CAG has been the subject of several recent analyst reports. 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. Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday. They set an “equal weight” rating and a $27.00 price target on the stock. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Bank of America lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Finally, Stifel Nicolaus cut their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and a consensus price target of $28.20.

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.