Allspring Global Investments Holdings LLC Reduces Position in Conagra Brands (NYSE:CAG)

Allspring Global Investments Holdings LLC decreased its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 28.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,775 shares of the company's stock after selling 128,490 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Conagra Brands worth $8,719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BSW Wealth Partners raised its stake in shares of Conagra Brands by 33.7% during the first quarter. BSW Wealth Partners now owns 13,134 shares of the company's stock valued at $350,000 after acquiring an additional 3,308 shares in the last quarter. QSM Asset Management Ltd raised its position in Conagra Brands by 20.0% during the 1st quarter. QSM Asset Management Ltd now owns 324,229 shares of the company's stock valued at $8,749,000 after purchasing an additional 54,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Conagra Brands by 12.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,847 shares of the company's stock valued at $1,801,000 after purchasing an additional 7,411 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Conagra Brands by 41.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 126,605 shares of the company's stock valued at $3,377,000 after purchasing an additional 37,107 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Conagra Brands by 59.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 991,953 shares of the company's stock valued at $26,455,000 after purchasing an additional 369,141 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CAG shares. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and decreased their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley cut 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. UBS Group cut 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. Finally, Bank of America downgraded shares of Conagra Brands from a "neutral" rating to an "underperform" rating and cut their target price for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a sell rating, eight have issued 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.82.

Conagra Brands Stock Down 0.7%

CAG traded down $0.15 during trading on Friday, hitting $21.00. The stock had a trading volume of 6,100,811 shares, compared to its average volume of 5,773,686. The company has a market capitalization of $10.02 billion, a PE ratio of 30.88, a PEG ratio of 1.59 and a beta of 0.11. Conagra Brands has a twelve month low of $20.26 and a twelve month high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. The stock has a 50 day simple moving average of $22.37 and a two-hundred day simple moving average of $24.72.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results 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 firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business earned $0.69 earnings per share. Conagra Brands's revenue was down 6.3% on a year-over-year basis. On average, research analysts predict that Conagra Brands will post 2.35 earnings per share for the current year.

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.