Conagra Brands Inc. (CAG) may enjoy gains as insiders got busy in the recent days

Conagra Brands Inc.’s recent filing unveils that its Director CHIRICO EMANUEL acquired Company’s shares for reported $1.02 million on Jul 25. In the deal valued at $34.06 per share,30,000 shares were bought. As a result of this transaction, CHIRICO EMANUEL now holds 40,788 shares worth roughly $ 1.44 million.


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Then, McGough Thomas M sold 25,400 shares, generating $938,530 in total proceeds. Upon selling the shares at $36.95, the EVP & Co-COO now owns 96,550 shares.

Before that, Batcheler Colleen sold 72,480 shares. Conagra Brands Inc. shares valued at $2,610,730 were divested by the EVP Gen Counsel & Corp Secty at a price of $36.02 per share. As a result of the transaction, Batcheler Colleen now holds 159,944 shares, worth roughly $5.64 million.

UBS initiated its Conagra Brands Inc. [CAG] rating to a Neutral in a research note published on Tuesday, March 30, 2022; the price target was $34. PT values the company’s stock at a premium of -3.65 to its Tuesday closing price. A number of analysts have revised their coverage, including Consumer Edge Research’s analysts, who decreased its forecast for the stock in early March from “an Overweight” to “an Equal weight”. JP Morgan also remained covering CAG and has decreased its forecast on October 08, 2021 with a “Neutral” recommendation from previously “an Overweight” rating. Credit Suisse revised its rating on September 29, 2021. It rated CAG as “a Neutral” which previously was an “an Underperform”.

Price Performance Review of CAG

On Tuesday, Conagra Brands Inc. [NYSE:CAG] saw its stock jump 0.97% to $35.24. On the same session, the stock had its day’s lowest price of $34.89, but rose to a high of $35.465. Over the last five days, the stock has gained 2.71%. Conagra Brands Inc. shares have risen nearly 3.19% since the year began. Nevertheless, the stocks have risen 3.74% over the past one year. While a 52-week high of $36.97 was reached on 04/21/22, a 52-week low of $30.06 was recorded on 03/11/22. SMA at 50 days reached $33.75, while 200 days put it at $33.74. A total of 2.9 million shares were traded, compared to the trading of 3.26 million shares in the previous session.

Levels Of Support And Resistance For CAG Stock

The 24-hour chart illustrates a support level at 34.93, which if violated will result in even more drops to 34.62. On the upside, there is a resistance level at 35.51. A further resistance level may holdings at 35.77. The Relative Strength Index (RSI) on the 14-day chart is 62.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.43, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.98%. Stochastics %K at 84.70% indicates the stock is a selling.

How much short interest is there in Conagra Brands Inc.?

A steep rise in short interest was recorded in Conagra Brands Inc. stocks on Jul 14, 2022, dropping by -4.67 million shares to a total of 10.72 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 15.39 million shares. There was a decline of -43.56%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.02% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.2.

Conagra Brands Inc. [CAG] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 53,831,651 shares, or roughly 11.21% of the outstanding CAG shares. In other words, the investor’s shares have risen by 1,032,423 from its previous 13-F filing of 52799228.0. Additionally, BlackRock Fund Advisors increased 2.03% of its stake after which the total value it holdings stand at $1,085,381,525, while T. Rowe Price Associates, Inc. added 27.45% of its stake to hold $853.53 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 2,671,720 shares of Conagra Brands Inc., while Capital Research & Management Co bought -13,779,159 shares. At present, Macquarie Investment Management B is holding 18,792,506 shares valued at $642.89 million. American Century Investment Manag owned 13,234,737 shares of the company at the time of its most recent 13F filing, worth $452.76 million.

According to FactSet, Conagra Brands Inc.’s share price will average $35.94 in the next year, based on opinions of analysts polled by the firm. This is up nearly 0.29 percent from its previous closing price of $34.90. Analysts expect Conagra Brands Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $32.00. However, 17 analysts have rated CAG stock as a Hold in their predictions for 2022.

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