Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Conagra Brands Inc shares valued at $1,211,600 were sold by McGough Thomas M on Aug 13 ’24. At $30.29 per share, McGough Thomas M sold 40,000 shares. The insider’s holdings dropped to 161,443 shares worth approximately $4.39 million following the completion of this transaction.
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Also, McGough Thomas M purchased 40,000 shares, netting a total of over 1,211,583 in proceeds.
Before that, Brock Charisse had sold 15,444 shares from its account. In a trade valued at $469,034, the EVP, Chief HR Officer traded Conagra Brands Inc shares for $30.37 each. Upon closing the transaction, the insider’s holdings decreased to 15,444 shares, worth approximately $3.08 million.
As published in their initiating research note from Goldman on August 12, 2024, Conagra Brands Inc [CAG] has been a Buy and the price target has been revised to $36. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in early February. As of December 12, 2023, Wells Fargo has initiated its “an Equal weight” rating for CAG. Earlier on December 11, 2023, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for CAG stock which previously was a “an Outperform”.
Analyzing CAG Stock Performance
During the last five days, there has been a drop of approximately -1.02%. Over the course of the year, Conagra Brands Inc shares have dropped approximately -5.20%. Shares of the company reached a 52-week high of $33.24 on 09/10/24 and a 52-week low of $26.21 on 11/15/24. A 50-day SMA is recorded $29.77, while a 200-day SMA reached $29.71. Nevertheless, trading volume fell to 4.38 million shares from 6.52 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 26.91, which, if violated, would cause prices to drop to 26.66. In the upper region, resistance lies at 27.46. The next price resistance is at 27.76. RSI (Relative Strength Index) is 33.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.80, which suggests the price will decrease in the coming days. Percent R is at 70.46%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
