SG Americas Securities LLC Sells 253,614 Shares of Conagra Brands $CAG

SG Americas Securities LLC reduced its stake in Conagra Brands (NYSE:CAG) by 46.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 291,500 shares of the company’s stock after selling 253,614 shares during the period. SG Americas Securities LLC’s holdings in Conagra Brands were worth $4,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Conagra Brands during the 4th quarter worth about $145,656,000. Two Sigma Investments LP raised its holdings in Conagra Brands by 239.6% in the 3rd quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after acquiring an additional 5,889,542 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Conagra Brands by 245.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after acquiring an additional 5,495,503 shares during the period. AQR Capital Management LLC lifted its position in Conagra Brands by 216.2% during the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after acquiring an additional 5,100,424 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Conagra Brands by 241.9% during the third quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock worth $108,313,000 after acquiring an additional 4,185,486 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

NYSE CAG opened at $13.98 on Tuesday. The firm has a 50-day moving average price of $13.69 and a two-hundred day moving average price of $16.03. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $21.37. The company has a market capitalization of $6.69 billion, a P/E ratio of -139.79 and a beta of -0.02. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. Analysts anticipate that Conagra Brands will post 1.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John J. Mulligan bought 17,500 shares of Conagra Brands stock in a transaction dated Tuesday, April 14th. The shares were bought at an average cost of $14.31 per share, with a total value of $250,425.00. Following the acquisition, the director owned 20,728 shares in the company, valued at $296,617.68. This trade represents a 542.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard H. Lenny purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was bought at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the transaction, the director directly owned 229,340 shares of the company’s stock, valued at $3,288,735.60. This trade represents a 12.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAG. BTIG Research began coverage on Conagra Brands in a research report on Monday, April 13th. They issued a “neutral” rating on the stock. BNP Paribas Exane dropped their price target on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. UBS Group reduced their price target on Conagra Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Evercore decreased their price objective on Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Finally, Wells Fargo & Company lowered their price objective on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, May 18th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of “Reduce” and a consensus target price of $14.13.

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.