Brandywine Global Investment Management LLC Grows Stake in Conagra Brands, Inc. (NYSE:CAG)

Brandywine Global Investment Management LLC raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 18.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,833,831 shares of the company’s stock after buying an additional 433,276 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Conagra Brands were worth $78,639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its position in shares of Conagra Brands by 13.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,456 shares of the company’s stock worth $1,088,000 after purchasing an additional 3,867 shares during the period. Larson Financial Group LLC lifted its holdings in Conagra Brands by 547.8% in the third quarter. Larson Financial Group LLC now owns 2,099 shares of the company’s stock worth $68,000 after buying an additional 1,775 shares during the period. FMR LLC grew its holdings in shares of Conagra Brands by 4.8% during the 3rd quarter. FMR LLC now owns 1,478,380 shares of the company’s stock worth $48,077,000 after acquiring an additional 67,079 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Conagra Brands by 113.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 959,968 shares of the company’s stock worth $31,218,000 after acquiring an additional 510,789 shares during the period. Finally, Townsquare Capital LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth approximately $283,000. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CAG. Citigroup decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Morgan Stanley assumed coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target for the company. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Finally, Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Nine research 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. Based on data from MarketBeat, Conagra Brands has an average rating of “Hold” and an average price target of $28.20.

Conagra Brands Stock Up 0.4 %

CAG stock opened at $26.55 on Friday. 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 stock 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. The business has a fifty day moving average price of $25.63 and a 200-day moving average price of $27.63. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

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.