Saturday, June 25, 2022

Insider Selling: McGough Thomas M, Conagra Brands Inc. [CAG] EVP & Co-COO divested 25,400 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Conagra Brands Inc. shares valued at $938,530 were sold by McGough Thomas M on Apr 21. At $36.95 per share, McGough Thomas M sold 25,400 shares. The insider’s holdings dropped to 96,550 shares worth approximately $3.13 million following the completion of this transaction.

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Also, Batcheler Colleen sold 72,480 shares, netting a total of over 2,610,730 in proceeds. Following the sale of shares at $36.02 each, the insider now holds 159,944 shares.

Before that, Serrao Darren had sold 11,700 shares from its account. In a trade valued at $403,533, the EVP & Co-COO traded Conagra Brands Inc. shares for $34.49 each. Upon closing the transaction, the insider’s holdings decreased to 11,700 shares, worth approximately $3.63 million.

As published in their initiating research note from UBS on March 30, 2022, Conagra Brands Inc. [CAG] has been a Neutral and the price target has been revised to $34. This represents a 4.53% premium over Wednesday’s closing price. Analysts at Consumer Edge Research downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early March. As of October 08, 2021, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for CAG. Earlier on September 29, 2021, Credit Suisse upgraded its rating. Their new recommendation was “a Neutral” for CAG stock which previously was a “an Underperform”.

Analyzing CAG’s Price Performance

On Wednesday, Conagra Brands Inc. [NYSE: CAG] rose 0.37% to $32.46. The stock’s lowest price that day was $32.04, but it reached a high of $32.58 in the same session. During the last five days, there has been a surge of approximately 2.08%. Over the course of the year, Conagra Brands Inc. shares have dropped approximately -4.95%. Shares of the company reached a 52-week high of $36.97 on 04/21/22 and a 52-week low of $30.06 on 03/11/22. A 50-day SMA is recorded $34.04, while a 200-day SMA reached $33.59. Nevertheless, trading volume fell to 3.21 million shares from 3.57 million shares the previous day.

Support And Resistance Levels for Conagra Brands Inc. (CAG)

According to the 24-hour chart, there is a support level at 32.14, which, if violated, would cause prices to drop to 31.82. In the upper region, resistance lies at 32.68. The next price resistance is at 32.90. RSI (Relative Strength Index) is 46.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.11, which suggests the price will decrease in the coming days. Percent R is at 27.23%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Conagra Brands Inc. subject to short interest?

Stocks of Conagra Brands Inc. saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.88 million shares to 15.49 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 16.37 million shares. A decline of -5.68% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.33 of the overall float, the days-to-cover ratio (short ratio) decline to 3.33.

Which companies own the most shares of Conagra Brands Inc. (CAG)?

According to The Vanguard Group, Inc. filings, the company currently owns 52,799,228 shares, which is about 11.00% of the total CAG shares outstanding. The investor’s shares have appreciated by 827,987 from its previous 13-F filing of 51971241.0 shares. With the completion of the sale, Capital Research & Management Co’s stake is now worth $1,159,459,724. BlackRock Fund Advisors acquire a 36.75% interest valued at $1.02 billion while T. Rowe Price Associates, Inc. purchased a 5,373,350 stake. A total of 2,671,720 shares of Conagra Brands Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -998,422 were sold by Macquarie Investment Management B. In its current portfolio, American Century Investment Manag holds 14,108,860 shares valued at $464.04 million.

In terms of Conagra Brands Inc. share price expectations, FactSet research, analysts set an average price target of $36.01 in the next 12 months, up nearly 11.32% from the previous closing price of $32.34. Analysts anticipate Conagra Brands Inc. stock to reach $40.00 by 2022, with the lowest price target being $31.00. In spite of this, 18 analysts ranked Conagra Brands Inc. stock as a Hold at the end of 2022. On July 14, 2021, Stifel assigned a price target of “a Hold” to the stock and downgraded coverage with a $35.

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