Meyer Handelman Co. Buys 1,000 Shares of Conagra Brands, Inc. (NYSE:CAG)

Meyer Handelman Co. raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 626,751 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Meyer Handelman Co. owned approximately 0.13% of Conagra Brands worth $17,963,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of Conagra Brands by 120.3% during the third quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after purchasing an additional 469,421 shares during the period. Adams Asset Advisors LLC bought a new stake in Conagra Brands in the fourth quarter valued at approximately $7,690,000. Invesco Ltd. grew its position in shares of Conagra Brands by 37.1% in the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after purchasing an additional 2,619,372 shares during the last quarter. Brandywine Global Investment Management LLC grew its position in shares of Conagra Brands by 21.7% in the third quarter. Brandywine Global Investment Management LLC now owns 1,867,203 shares of the company’s stock valued at $51,199,000 after purchasing an additional 333,326 shares during the last quarter. Finally, Aigen Investment Management LP grew its position in Conagra Brands by 294.8% during the third quarter. Aigen Investment Management LP now owns 105,923 shares of the company’s stock worth $2,904,000 after buying an additional 79,092 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Conagra Brands in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $31.00 target price for the company. Royal Bank of Canada dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Evercore ISI lowered shares of Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price objective for the company. in a research note on Monday, December 11th. Finally, Citigroup initiated coverage on shares of Conagra Brands in a research report on Thursday, February 1st. They set a “neutral” rating and a $30.00 price target for the company. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.87.

Conagra Brands Stock Performance

Shares of Conagra Brands stock traded up $0.10 during trading on Monday, reaching $29.09. The company’s stock had a trading volume of 2,863,973 shares, compared to its average volume of 4,927,615. The company has a 50-day moving average price of $28.40 and a two-hundred day moving average price of $28.29. The firm has a market cap of $13.91 billion, a PE ratio of 14.00, a P/E/G ratio of 3.08 and a beta of 0.42. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.94. The company has a current ratio of 0.91, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, January 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.23 billion. Conagra Brands had a net margin of 8.09% and a return on equity of 14.78%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, analysts forecast that Conagra Brands, Inc. will post 2.59 EPS 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.