Zurcher Kantonalbank Zurich Cantonalbank Sells 47,382 Shares of Conagra Brands, Inc. (NYSE:CAG)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 243,151 shares of the company’s stock after selling 47,382 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Conagra Brands were worth $6,747,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the fourth quarter worth about $28,000. Riverview Trust Co purchased a new position in Conagra Brands in the 4th quarter worth approximately $29,000. Grove Bank & Trust grew its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands in the fourth quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $44,000. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CAG shares. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Barclays reduced their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Eight analysts have rated the stock with 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, Conagra Brands has a consensus rating of “Hold” and an average target price of $28.33.

Conagra Brands Price Performance

NYSE CAG opened at $25.78 on Friday. The business’s fifty day moving average is $25.76 and its 200 day moving average is $28.13. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market capitalization of $12.30 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm earned $0.71 EPS. The company’s revenue was down .4% on a year-over-year basis. Sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

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.