QSM Asset Management Ltd Buys 175,600 Shares of Conagra Brands $CAG

Key Points

• QSM Asset Management raised its stake in Conagra Brands by 33.2%, buying 175,600 shares in Q4 to own 704,805 shares (about $12.2M), making CAG its 5th-largest holding (7.0% of the fund).
• Conagra is ~83.8% institutionally owned and is trading around $15.72 with a $7.52B market cap; analysts' consensus rating is "Reduce" with an average price target of $18.29.

QSM Asset Management Ltd increased its stake in Conagra Brands (NYSE:CAG - Free Report) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 704,805 shares of the company's stock after buying an additional 175,600 shares during the quarter. Conagra Brands makes up 7.0% of QSM Asset Management Ltd's holdings, making the stock its 5th biggest position. QSM Asset Management Ltd owned about 0.15% of Conagra Brands worth $12,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new stake in Conagra Brands during the second quarter worth $26,000. MUFG Securities EMEA plc bought a new position in shares of Conagra Brands in the 2nd quarter valued at about $29,000. True Wealth Design LLC increased its stake in shares of Conagra Brands by 844.4% during the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company's stock worth $29,000 after purchasing an additional 1,427 shares during the last quarter. Spire Wealth Management increased its stake in shares of Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company's stock worth $32,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Conagra Brands in the 3rd quarter valued at about $33,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Trading Up 0.6%

Shares of NYSE:CAG opened at $15.72 on Tuesday. Conagra Brands has a 12-month low of $15.03 and a 12-month high of $27.68. The business has a 50 day moving average of $17.90 and a 200-day moving average of $17.80. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.52 billion, a PE ratio of -71.45 and a beta of -0.02.

Analyst Ratings Changes

CAG has been the subject of a number of research analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Conagra Brands in a report on Wednesday, February 18th. Wall Street Zen upgraded Conagra Brands from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Royal Bank Of Canada cut their price objective on Conagra Brands from $22.00 to $20.00 and set a "sector perform" rating for the company in a research report on Monday, December 22nd. TD Cowen reiterated a "hold" rating on shares of Conagra Brands in a research note on Monday, December 22nd. Finally, Sanford C. Bernstein decreased their target price on Conagra Brands from $21.00 to $18.00 and set a "market perform" rating on the stock in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $18.29.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra's product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender's and Banquet in the frozen foods category, as well as Hunt's sauces, Orville Redenbacher's popcorn, Slim Jim meat snacks and Reddi-wip toppings.

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