Insider Sale Alert: Conagra Brands Inc. [CAG] – Is it Time to sell?


In a filing, Conagra Brands Inc. revealed its EVP & Co-COO McGough Thomas M unloaded Company’s shares for reported $2.5 million on Aug 02. In the deal valued at $33.07 per share,75,522 shares were sold. As a result of this transaction, McGough Thomas M now holds 157,125 shares worth roughly $ 4.51 million.

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Then, Brock Charisse sold 7,036 shares, generating $260,613 in total proceeds. Upon selling the shares at $37.04, the EVP, Chief HR Officer now owns 94,802 shares.

Before that, McGough Thomas M sold 45,000 shares. Conagra Brands Inc. shares valued at $1,739,610 were divested by the EVP & Co-COO at a price of $38.66 per share. As a result of the transaction, McGough Thomas M now holds 104,859 shares, worth roughly $3.01 million.

TD Cowen initiated its Conagra Brands Inc. [CAG] rating to a Market perform in a research note published on Monday, September 13, 2023; the price target was $32. PT values the company’s stock at a premium of 10.25 to its Monday closing price.

Price Performance Review of CAG

On Monday, Conagra Brands Inc. [NYSE:CAG] saw its stock fall -0.76% to $28.72. On the same session, the stock had its day’s lowest price of $28.45, but rose to a high of $29.00. Over the last five days, the stock has lost -1.10%. Conagra Brands Inc. shares have fallen nearly -25.79% since the year began. Nevertheless, the stocks have fallen -14.57% over the past one year. While a 52-week high of $41.30 was reached on 01/09/23, a 52-week low of $28.35 was recorded on 09/13/23. SMA at 50 days reached $31.07, while 200 days put it at $35.34. A total of 3.7 million shares were traded, compared to the trading of 6.22 million shares in the previous session.

Levels Of Support And Resistance For CAG Stock

The 24-hour chart illustrates a support level at 28.45, which if violated will result in even more drops to 28.17. On the upside, there is a resistance level at 29.00. A further resistance level may holdings at 29.27. The Relative Strength Index (RSI) on the 14-day chart is 31.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.41%. Stochastics %K at 24.96% indicates the stock is a holding.

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

A steep rise in short interest was recorded in Conagra Brands Inc. stocks on Aug 30, 2023, dropping by -2.86 million shares to a total of 13.21 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 16.07 million shares. There was a decline of -21.65%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.16% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.58.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 56,358,778 shares, or roughly 11.79% of the outstanding CAG shares. In other words, the investor’s shares have risen by 382,573 from its previous 13-F filing of 55976205.0. Additionally, BlackRock Fund Advisors decreased -0.41% of its stake after which the total value it holdings stand at $901,873,239, while SSgA Funds Management, Inc. reduced -0.81% of its stake to hold $722.14 million in the firm. Over the last quarter, T. Rowe Price Associates, Inc. sold -1,823,454 shares of Conagra Brands Inc., while Nordea Investment Management AB sold 7,854,021 shares. At present, Macquarie Investment Management B is holding 12,441,234 shares valued at $371.74 million. American Century Investment Manag owned 12,434,033 shares of the company at the time of its most recent 13F filing, worth $371.53 million.

According to FactSet, Conagra Brands Inc.’s share price will average $35.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 27.85 percent from its previous closing price of $28.94. Analysts expect Conagra Brands Inc. stock to reach the higher price of $39.00, while the lowest price estimate is $30.00. However, 16 analysts have rated CAG stock as a Hold in their predictions for 2023.


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