Conagra Brands (NYSE:CAG) Reaches New 12-Month Low – Should You Sell?

Conagra Brands (NYSE:CAG)’s share price reached a new 52-week low on Wednesday . The company traded as low as $15.05 and last traded at $15.1410, with a volume of 3703687 shares traded. The stock had previously closed at $15.56.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Sanford C. Bernstein cut their price target 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. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. Bank of America lowered their price target on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Monday, December 22nd. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $15.00 price objective (down from $20.00) on shares of Conagra Brands in a report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $18.57.

Conagra Brands Stock Performance

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 firm’s fifty day moving average price is $17.96 and its 200-day moving average price is $17.87. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of -69.06 and a beta of -0.02.

Hedge Funds Weigh In On Conagra Brands

Large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its holdings in shares of Conagra Brands by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock valued at $628,000 after purchasing an additional 954 shares during the last quarter. United Services Automobile Association purchased a new position in Conagra Brands during the 1st quarter worth approximately $225,000. Empowered Funds LLC grew its stake in Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after buying an additional 2,038 shares during the last quarter. Woodline Partners LP increased its position in Conagra Brands by 40.7% during the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after buying an additional 11,664 shares during the period. Finally, MAI Capital Management increased its position in Conagra Brands by 11.5% during the second quarter. MAI Capital Management now owns 9,575 shares of the company’s stock worth $196,000 after buying an additional 984 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Company 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.