Brookstone Capital Management Has $12.46 Million Stake in Conagra Brands (NYSE:CAG)

Brookstone Capital Management increased its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 16.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 466,991 shares of the company's stock after purchasing an additional 67,537 shares during the period. Brookstone Capital Management owned approximately 0.10% of Conagra Brands worth $12,455,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CAG. Alpine Bank Wealth Management acquired a new position in shares of Conagra Brands during the 1st quarter worth about $26,000. Capital Advisors Ltd. LLC lifted its position in shares of Conagra Brands by 82.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock valued at $28,000 after acquiring an additional 741 shares during the period. AdvisorNet Financial Inc increased its stake in Conagra Brands by 86.1% during the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock valued at $40,000 after acquiring an additional 690 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Conagra Brands during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd. UBS Group lowered their price target on Conagra Brands from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Barclays lowered their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $24.82.

Conagra Brands Price Performance

Shares of CAG stock traded down $0.15 during trading hours on Friday, hitting $21.00. The company had a trading volume of 6,100,811 shares, compared to its average volume of 5,777,493. Conagra Brands has a 12 month low of $20.26 and a 12 month high of $33.24. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.59 and a beta of 0.11. The firm's fifty day moving average is $22.37 and its 200 day moving average is $24.69. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company's revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal 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.