Monitoring Conagra Brands Inc. (CAG) after recent insider movements


Conagra Brands Inc.’s filing revealed that its SVP, Corporate Controller Wise Robert G unloaded Company’s shares for reported $2.04 million on Jan 06. In the deal valued at $40.90 per share,50,000 shares were sold. As a result of this transaction, Wise Robert G now holds 22,717 shares worth roughly $ 0.85 million.

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Then, Bartell Carey sold 6,408 shares, generating $221,076 in total proceeds. Upon selling the shares at $34.50, the EVP, GC and Corp. Secretary now owns 0 shares.

Before that, McGough Thomas M sold 21,405 shares. Conagra Brands Inc. shares valued at $757,737 were divested by the EVP & Co-COO at a price of $35.40 per share. As a result of the transaction, McGough Thomas M now holds 104,859 shares, worth roughly $3.91 million.

Morgan Stanley upgraded its Conagra Brands Inc. [CAG] rating to an Overweight from a an Equal-weight in a research note published on Tuesday, December 20, 2022; the price target was increased to $45 from $34. PT values the company’s stock at a premium of 17.2 to its Tuesday closing price. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who decreased its forecast for the stock in early December from “a Hold” to “a Sell”. UBS also remained covering CAG and has increased its forecast on November 18, 2022 with a “Buy” recommendation from previously “Neutral” rating. Exane BNP Paribas started covering the stock on November 15, 2022. It rated CAG as “an Outperform”.

Price Performance Review of CAG

On Tuesday, Conagra Brands Inc. [NYSE:CAG] saw its stock fall -0.45% to $37.26. On the same session, the stock had its day’s lowest price of $37.19, but rose to a high of $37.66. Over the last five days, the stock has lost -6.92%. Conagra Brands Inc. shares have fallen nearly -3.72% since the year began. Nevertheless, the stocks have risen 5.70% over the past one year. While a 52-week high of $41.30 was reached on 01/09/23, a 52-week low of $30.06 was recorded on 01/24/23. SMA at 50 days reached $37.97, while 200 days put it at $35.22. A total of 4.44 million shares were traded, compared to the trading of 3.94 million shares in the previous session.

Levels Of Support And Resistance For CAG Stock

The 24-hour chart illustrates a support level at 37.08, which if violated will result in even more drops to 36.90. On the upside, there is a resistance level at 37.55. A further resistance level may holdings at 37.84. The Relative Strength Index (RSI) on the 14-day chart is 35.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.76, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.30%. Stochastics %K at 5.65% indicates the stock is a buying.

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

A steep rise in short interest was recorded in Conagra Brands Inc. stocks on Oct 13, 2022, dropping by -0.61 million shares to a total of 8.77 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 9.38 million shares. There was a decline of -6.96%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.34% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.18.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 54,456,394 shares, or roughly 11.36% of the outstanding CAG shares. In other words, the investor’s shares have risen by 624,743 from its previous 13-F filing of 53831651.0. Additionally, BlackRock Fund Advisors decreased -0.03% of its stake after which the total value it holdings stand at $1,227,508,079, while T. Rowe Price Associates, Inc. reduced -1.96% of its stake to hold $1.06 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 401,379 shares of Conagra Brands Inc., while Macquarie Investment Management B bought -930,096 shares. At present, American Century Investment Manag is holding 11,412,192 shares valued at $441.65 million. Capital Research & Management Co owned 11,299,552 shares of the company at the time of its most recent 13F filing, worth $437.29 million.

According to FactSet, Conagra Brands Inc.’s share price will average $41.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.55 percent from its previous closing price of $37.43. Analysts expect Conagra Brands Inc. stock to reach the higher price of $48.00, while the lowest price estimate is $35.00. However, 18 analysts have rated CAG stock as an Overweight in their predictions for 2023. The most recent change occurred on March 30, 2022 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $34 price target.


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