Miller Howard Investments Inc. NY Grows Stock Holdings in Conagra Brands (NYSE:CAG)

Miller Howard Investments Inc. NY grew its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,100,073 shares of the company's stock after buying an additional 232,924 shares during the period. Miller Howard Investments Inc. NY owned 0.23% of Conagra Brands worth $29,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Conagra Brands by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Conagra Brands by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock valued at $325,096,000 after purchasing an additional 231,477 shares during the period. Invesco Ltd. lifted its stake in shares of Conagra Brands by 18.5% during the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock valued at $309,728,000 after buying an additional 1,745,319 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock valued at $225,746,000 after buying an additional 2,058,000 shares in the last quarter. Finally, Norges Bank bought a new position in Conagra Brands in the 4th quarter worth approximately $168,877,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Price Performance

Shares of CAG traded down $0.15 during trading hours on Thursday, reaching $21.00. 6,100,811 shares of the company's stock traded hands, compared to its average volume of 5,773,686. Conagra Brands has a 12 month low of $20.26 and a 12 month high of $33.24. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.71. The stock has a market cap of $10.02 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 1.57 and a beta of 0.11. The firm's 50 day simple moving average is $22.44 and its 200-day simple moving average is $24.77.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts expect that Conagra Brands will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CAG shares. Bank of America downgraded Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. The Goldman Sachs Group cut Conagra Brands from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $26.00 to $21.00 in a report on Monday, June 9th. Wells Fargo & Company reduced their target price on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, June 2nd. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Finally, UBS Group cut their price objective on shares of Conagra Brands from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of "Hold" and a consensus price target of $24.82.

Conagra Brands 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.