Miller Global Investments LLC Acquires New Holdings in Conagra Brands $CAG

Miller Global Investments LLC bought a new position in shares of Conagra Brands (NYSE:CAG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 46,283 shares of the company’s stock, valued at approximately $801,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sutton Place Investors LLC raised its position in shares of Conagra Brands by 1.9% in the third quarter. Sutton Place Investors LLC now owns 31,196 shares of the company’s stock valued at $571,000 after purchasing an additional 585 shares during the period. Blair William & Co. IL boosted its holdings in shares of Conagra Brands by 0.5% during the 3rd quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock worth $2,494,000 after buying an additional 633 shares during the period. Farther Finance Advisors LLC grew its stake in Conagra Brands by 5.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,036 shares of the company’s stock valued at $220,000 after buying an additional 661 shares during the last quarter. Disciplined Equity Management Inc. grew its stake in Conagra Brands by 0.9% in the 3rd quarter. Disciplined Equity Management Inc. now owns 82,410 shares of the company’s stock valued at $1,509,000 after buying an additional 700 shares during the last quarter. Finally, Probity Advisors Inc. raised its holdings in Conagra Brands by 2.5% in the 3rd quarter. Probity Advisors Inc. now owns 29,231 shares of the company’s stock worth $535,000 after acquiring an additional 718 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 1.1%

CAG stock opened at $15.40 on Friday. Conagra Brands has a 1-year low of $15.31 and a 1-year high of $27.68. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $18.12 and its 200-day moving average is $18.00. The firm has a market cap of $7.36 billion, a P/E ratio of -69.98 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last posted its earnings results on Friday, December 19th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3 billion. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.Conagra Brands’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Equities analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CAG shares. UBS Group reissued a “neutral” rating and set a $20.00 target price on shares of Conagra Brands in a research report on Friday, February 13th. Stifel Nicolaus dropped their price objective on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Sanford C. Bernstein dropped their price objective on Conagra Brands from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, December 22nd. Finally, Bank of America lowered their target price on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating on the stock in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Conagra Brands has a consensus rating of “Reduce” and a consensus target price of $18.71.

Conagra Brands Profile

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.