Generali Asset Management SPA SGR Makes New $4.22 Million Investment in Conagra Brands, Inc. (NYSE:CAG)

Generali Asset Management SPA SGR purchased a new position in Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 152,229 shares of the company’s stock, valued at approximately $4,224,000.

Several other institutional investors have also added to or reduced their stakes in CAG. KBC Group NV boosted its holdings in Conagra Brands by 5.7% in the third quarter. KBC Group NV now owns 77,815 shares of the company’s stock worth $2,531,000 after acquiring an additional 4,193 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Conagra Brands in the third quarter worth about $224,000. Thrivent Financial for Lutherans boosted its holdings in Conagra Brands by 13.1% in the third quarter. Thrivent Financial for Lutherans now owns 33,456 shares of the company’s stock worth $1,088,000 after acquiring an additional 3,867 shares in the last quarter. Swiss National Bank boosted its holdings in Conagra Brands by 0.3% in the third quarter. Swiss National Bank now owns 1,419,312 shares of the company’s stock worth $46,156,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Baron Wealth Management LLC acquired a new stake in Conagra Brands in the third quarter worth about $217,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CAG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company decreased their target price 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. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Citigroup decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Eight equities research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.33.

Conagra Brands Stock Down 0.3 %

Shares of CAG stock opened at $26.00 on Wednesday. The stock has a 50 day moving average of $25.66 and a 200 day moving average of $27.96. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $12.41 billion, a P/E ratio of 25.49, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24.

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

About Conagra Brands

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.