Conagra Brands (NYSE:CAG) Hits New 1-Year Low – Should You Sell?

Conagra Brands (NYSE:CAG) reached a new 52-week low during trading on Wednesday . The company traded as low as $15.05 and last traded at $15.1410, with a volume of 3703687 shares trading hands. The stock had previously closed at $15.56.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CAG shares. Wells Fargo & Company restated an “underweight” rating and set a $15.00 price objective (down from $20.00) on shares of Conagra Brands in a research report on Thursday, March 12th. Jefferies Financial Group decreased their target price on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, December 11th. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Conagra Brands in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Reduce” and a consensus price target of $18.57.

Conagra Brands Price Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. The business has a 50 day moving average price of $18.04 and a 200-day moving average price of $17.91. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of -68.52 and a beta of -0.02.

Hedge Funds Weigh In On Conagra Brands

A number of institutional investors and hedge funds have recently modified their holdings of CAG. State Street Corp increased its stake in shares of Conagra Brands by 2.3% in the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock valued at $536,363,000 after acquiring an additional 588,435 shares in the last quarter. Invesco Ltd. boosted its stake in Conagra Brands by 13.3% during the fourth quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock worth $305,829,000 after acquiring an additional 2,079,903 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Conagra Brands by 20.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,622,165 shares of the company’s stock worth $305,044,000 after purchasing an additional 2,948,081 shares during the period. Morgan Stanley grew its holdings in Conagra Brands by 18.5% in the fourth quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock worth $263,624,000 after purchasing an additional 2,376,823 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Conagra Brands by 19.6% in the third quarter. Ameriprise Financial Inc. now owns 12,130,671 shares of the company’s stock valued at $222,113,000 after purchasing an additional 1,984,873 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

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.