Bessemer Group Inc. Trims Stock Position in Conagra Brands (NYSE:CAG)

Bessemer Group Inc. reduced its stake in Conagra Brands (NYSE:CAG - Free Report) by 72.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,221 shares of the company's stock after selling 56,817 shares during the period. Bessemer Group Inc.'s holdings in Conagra Brands were worth $566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Spire Wealth Management grew its position in shares of Conagra Brands by 216.0% during the first quarter. Spire Wealth Management now owns 3,271 shares of the company's stock valued at $87,000 after purchasing an additional 2,236 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Conagra Brands during the first quarter valued at approximately $974,000. Edmp Inc. grew its holdings in Conagra Brands by 510.8% during the 1st quarter. Edmp Inc. now owns 48,131 shares of the company's stock valued at $1,284,000 after buying an additional 40,251 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Conagra Brands by 3.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 125,064 shares of the company's stock worth $3,335,000 after acquiring an additional 3,715 shares during the last quarter. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Conagra Brands during the 1st quarter worth approximately $67,000. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAG. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley reduced 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 report on Wednesday. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Finally, Barclays dropped their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Two equities 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 stock has a consensus rating of "Hold" and an average target price of $24.82.

Conagra Brands Trading Down 0.4%

Shares of NYSE:CAG traded down $0.10 during trading hours on Thursday, hitting $21.05. 1,247,003 shares of the company's stock traded hands, compared to its average volume of 5,742,095. The firm has a market capitalization of $10.05 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.11. The business has a fifty day moving average price of $22.52 and a 200-day moving average price of $24.82. Conagra Brands has a 1 year low of $20.26 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23.

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

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.