Conagra Brands (NYSE:CAG) Shares Bought by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in Conagra Brands (NYSE:CAG - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 466,991 shares of the company's stock after acquiring an additional 67,537 shares during the period. Brookstone Capital Management owned approximately 0.10% of Conagra Brands worth $12,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAG. Alpine Bank Wealth Management acquired a new stake in shares of Conagra Brands in the 1st quarter valued at about $26,000. Capital Advisors Ltd. LLC grew its stake in shares of Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after buying an additional 452 shares during the period. Golden State Wealth Management LLC boosted its stake in Conagra Brands by 235.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock valued at $28,000 after purchasing an additional 741 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in Conagra Brands by 86.1% during the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock valued at $40,000 after purchasing an additional 690 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Conagra Brands during the 4th quarter valued at about $41,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Trading Down 0.7%

NYSE:CAG traded down $0.15 during mid-day trading on Friday, hitting $21.00. 6,100,811 shares of the stock traded hands, compared to its average volume of 5,777,493. The stock 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. Conagra Brands has a 52 week low of $20.26 and a 52 week high of $33.24. The firm's 50 day moving average is $22.37 and its two-hundred day moving average is $24.70. The company has a quick ratio of 0.23, a current ratio of 0.69 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. 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 earned $0.69 earnings per share. Conagra Brands's revenue was down 6.3% on a year-over-year basis. On average, equities research analysts predict that Conagra Brands will post 2.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on CAG. Barclays cut their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. UBS Group dropped their target price on shares of Conagra Brands from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday, June 2nd. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Finally, Morgan Stanley dropped their target price on shares of Conagra Brands from $27.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $24.82.

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.