Elo Mutual Pension Insurance Co Acquires 7,435 Shares of Conagra Brands, Inc. (NYSE:CAG)

Elo Mutual Pension Insurance Co lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 17.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 49,912 shares of the company’s stock after acquiring an additional 7,435 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Conagra Brands were worth $1,385,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CAG shares. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Stifel Nicolaus reduced their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.20.

Conagra Brands Stock Performance

Conagra Brands stock opened at $26.55 on Friday. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The stock’s 50 day simple moving average is $25.63 and its two-hundred day simple moving average is $27.63. 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 stock has a market cap of $12.67 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.76 and a beta of 0.18.

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.