Conagra Brands, Inc.

New York Stock Exchange
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Somewhat Bearish -25

Assenagon Asset Management S.A. Sells 737,108 Shares of Conagra Brands $CAG

AI-generated analysis

📉 Assenagon Asset Management S.A. slashed its Conagra Brands holdings by 97.9%, selling 737,108 shares in Q1.

📈 Virginia Retirement Systems increased its stake by 24.8% to own 661,029 shares valued at $11.4 million.

🏦 Goldman Sachs Group Inc. boosted its position by 23.7%, now holding 8.1 million shares worth $140.7 million.

📉 BNP Paribas Exane lowered its price target from $16.00 to $14.00 with a 'neutral' rating.

📉 Deutsche Bank Aktiengesellschaft cut its target price from $14.00 to $12.00 maintaining a 'hold' rating.

📉 Wells Fargo & Company reduced its target price from $14.00 to $13.00 and assigned an 'underweight' rating.

📉 Evercore lowered its price target from $18.00 to $13.00 in a June 10th report.

💰 Director Richard H. Lenny purchased 25,000 shares at an average cost of $14.34 for a total value of $358,500.

📊 The company currently has a negative PE ratio of -143.34 and a quick ratio of 0.30.

🏢 Institutional investors own 83.75% of Conagra Brands' outstanding stock.

Bullish Signals
  • Goldman Sachs Group Inc. significantly increased its stake by 23.7%, now holding over 8 million shares valued at $140.6 million.
  • Sound Income Strategies LLC grew its holdings by 153.4% to own 406,666 shares valued at $6.9 million.
  • AIA Group Ltd raised its position by 238.9% in the third quarter, acquiring an additional 145,191 shares.
  • Insider Director Richard H. Lenny purchased 25,000 shares for $358,500, increasing his direct ownership by 12.23%.
  • Director John J. Mulligan acquired 17,500 shares for $250,425, representing a massive 542.13% increase in his personal stake.
Risk Factors
  • Assenagon Asset Management S.A. drastically reduced its holdings by 97.9%, retaining only a minimal position of 16,006 shares.
  • BNP Paribas Exane lowered its price objective from $16.00 to $14.00 and set a 'neutral' rating.
  • Deutsche Bank Aktiengesellschaft reduced its target price from $14.00 to $12.00 while maintaining a 'hold' rating.
  • Wells Fargo & Company cut its price target from $14.00 to $13.00 and assigned an 'underweight' rating.
  • Evercore lowered its price target from $18.00 to $13.00 in a recent research report.
  • The company has a negative PE ratio of -143.34, indicating significant losses or high debt relative to earnings.
Full Analysis
Assenagon Asset Management S.A. significantly reduced its position in Conagra Brands (NYSE: CAG) by 97.9% in the first quarter, selling 737,108 shares and retaining only 16,006 shares valued at $252,000. Conversely, several major institutional investors increased their stakes during the fourth quarter, including Virginia Retirement Systems, which raised its holding by 24.8% to own 661,029 shares worth approximately $11.4 million. Goldman Sachs Group Inc. boosted its position by 23.7% to hold 8.1 million shares valued at $140.7 million, while Sound Income Strategies LLC grew its holdings by 153.4%. Other notable increases came from Leonteq Securities AG and AIA Group Ltd, which established or expanded new positions in the third and fourth quarters respectively. Analyst sentiment remains mixed with a consensus rating of 'Reduce' and an average price target of $14.13. Major banks including BNP Paribas Exane, Deutsche Bank, Wells Fargo, and Evercore have recently lowered their price targets to between $12.00 and $14.00, citing concerns reflected in the company's negative PE ratio of -143.34 and a quick ratio of 0.30. Insider activity shows Director Richard H. Lenny purchasing 25,000 shares for $358,500 and Director John J. Mulligan buying 17,500 shares for $250,425 in April transactions. Despite these insider buys, the stock trades near its 50-day moving average of $13.64, with institutional ownership standing at 83.75%.