Sumitomo Mitsui Trust Group Inc. Buys 35,385 Shares of Conagra Brands (NYSE:CAG)

Sumitomo Mitsui Trust Group Inc. raised its stake in Conagra Brands (NYSE:CAG - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,302,585 shares of the company's stock after buying an additional 35,385 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Conagra Brands worth $34,740,000 at the end of the most recent quarter.

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

Conagra Brands Stock Performance

NYSE:CAG opened at $21.14 on Thursday. 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 has a twelve month low of $20.26 and a twelve month high of $33.24. The stock has a market cap of $10.09 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.11. The firm's fifty day simple moving average is $22.52 and its 200 day simple moving average is $24.82.

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 analysts' consensus estimates 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 period in the previous year, the firm posted $0.69 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. Barclays reduced their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Morgan Stanley lowered their target price on Conagra Brands from $27.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday. UBS Group dropped their target price on Conagra Brands from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group cut Conagra Brands from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.

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