Miller Howard Investments Inc. NY Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Miller Howard Investments Inc. NY trimmed its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 73.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,919 shares of the company's stock after selling 627,807 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Conagra Brands were worth $6,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. boosted its stake in Conagra Brands by 10.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 8,133 shares of the company's stock worth $233,000 after purchasing an additional 791 shares during the period. Nisa Investment Advisors LLC boosted its stake in Conagra Brands by 34.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 195,066 shares of the company's stock worth $5,591,000 after purchasing an additional 50,329 shares during the period. Venture Visionary Partners LLC bought a new position in Conagra Brands in the 4th quarter worth approximately $639,000. Arkadios Wealth Advisors boosted its stake in Conagra Brands by 9.9% in the 4th quarter. Arkadios Wealth Advisors now owns 36,474 shares of the company's stock worth $1,045,000 after purchasing an additional 3,292 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in Conagra Brands by 5.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 468,095 shares of the company's stock worth $13,373,000 after purchasing an additional 22,537 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

NYSE:CAG remained flat at $31.28 during midday trading on Tuesday. The company had a trading volume of 4,320,436 shares, compared to its average volume of 5,132,666. The firm has a 50-day moving average price of $28.56 and a two-hundred day moving average price of $28.36. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 3.30 and a beta of 0.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. Conagra Brands's quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Conagra Brands, Inc. will post 2.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAG has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price target on Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 3rd. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday. Barclays increased their target price on Conagra Brands from $31.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday. Stifel Nicolaus increased their target price on Conagra Brands from $29.00 to $32.00 and gave the company a "hold" rating in a research report on Friday. Finally, Evercore ISI downgraded Conagra Brands from an "outperform" rating to an "in-line" rating and set a $32.00 target price for the company. in a research report on Monday, December 11th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $33.14.

About Conagra Brands

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.