Y Intercept Hong Kong Ltd Takes $1.64 Million Position in Conagra Brands $CAG

Y Intercept Hong Kong Ltd acquired a new position in shares of Conagra Brands (NYSE:CAG) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 104,255 shares of the company’s stock, valued at approximately $1,639,000.

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

Analyst Ratings Changes

CAG has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Royal Bank Of Canada cut their price target on Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating on the stock in a report on Thursday, June 25th. Wells Fargo & Company reduced their price objective on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Monday, May 18th. Stifel Nicolaus lowered their price objective on Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $12.00 target price (down from $16.00) on shares of Conagra Brands in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $14.00.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $13.36 on Friday. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The stock has a market cap of $6.39 billion, a PE ratio of -133.59 and a beta of -0.02. The company’s 50-day moving average price is $13.60 and its two-hundred day moving average price is $15.82.

Insider Buying and Selling

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

Conagra Brands 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.