Today’s Short Interest Alert: Could Conagra Brands Incorporated (NYSE:CAG) Change Direction After More Shorts?

November 28, 2016 - By Marie Mckinney   ·   0 Comments

Today's Short Interest Alert: Could Conagra Brands Incorporated (NYSE:CAG) Change Direction After More Shorts?

The stock of Conagra Brands Incorporated (NYSE:CAG) registered an increase of 12.24% in short interest. CAG’s total short interest was 4.74M shares in November as published by FINRA. Its up 12.24% from 4.23 million shares, reported previously. With 2.69 million shares average volume, it will take short sellers 2 days to cover their CAG’s short positions. The short interest to Conagra Brands Incorporated’s float is 1.09%. About 860,574 shares traded hands. Conagra Brands Inc (NYSE:CAG) has risen 8.77% since April 25, 2016 and is uptrending. It has outperformed by 2.76% the S&P500.

Conagra Brands, Inc., formerly ConAgra Foods, Inc., operates as a packaged food company. The company has a market cap of $16.80 billion. The Firm operates through two divisions: Consumer Foods and Commercial Foods. It has a 33.39 P/E ratio. The Firm sells branded and customized food products, as well as commercially branded foods.

Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.14, from 1.11 in 2016Q1. The ratio worsened, as 43 funds sold all Conagra Brands Inc shares owned while 208 reduced positions. 68 funds bought stakes while 211 increased positions. They now own 326.73 million shares or 0.37% less from 327.94 million shares in 2016Q1.
Bridges Invest Mgmt last reported 11,061 shares in the company. M&T Bancorp Corp, a New York-based fund reported 50,525 shares. Tci Wealth accumulated 0.05% or 2,077 shares. Credit Suisse Ag last reported 0.05% of its portfolio in the stock. State Board Of Administration Of Florida Retirement Sys has invested 0.1% of its portfolio in Conagra Brands Inc (NYSE:CAG). Courier Cap has invested 0.12% of its portfolio in Conagra Brands Inc (NYSE:CAG). Loring Wolcott And Coolidge Fiduciary Advsr Llp Ma last reported 0% of its portfolio in the stock. Blair William & Co Il, a Illinois-based fund reported 16,999 shares. Moreover, Hudson Valley Invest Advsrs Inc Adv has 0.09% invested in Conagra Brands Inc (NYSE:CAG) for 5,575 shares. Phocas has 105,418 shares for 0.37% of their US portfolio. Mycio Wealth Prtnrs Lc holds 0% or 10 shares in its portfolio. Burnham Asset Mngmt reported 7,297 shares or 0.1% of all its holdings. The Kansas-based Boyer And Corporon Wealth Mgmt Lc has invested 1.82% in Conagra Brands Inc (NYSE:CAG). Moore Capital Mngmt Ltd Partnership holds 0.91% of its portfolio in Conagra Brands Inc (NYSE:CAG) for 486,000 shares. Nomura Hldg last reported 0.02% of its portfolio in the stock.

Insider Transactions: Since July 5, 2016, the stock had 0 insider buys, and 8 sales for $14.15 million net activity. 36,654 shares were sold by Wise Robert G, worth $1.77 million on Tuesday, July 5. 159,057 shares were sold by Gehring John, worth $7.66M on Tuesday, July 5. GOLDSTONE STEVEN F sold $1.99M worth of Conagra Brands Inc (NYSE:CAG) on Thursday, July 7. 4,607 Conagra Brands Inc (NYSE:CAG) shares with value of $221,597 were sold by BUTLER STEPHEN G. Another trade for 4,636 shares valued at $221,972 was sold by JURGENSEN WILLIAM G. Johri Rajive sold $712,877 worth of Conagra Brands Inc (NYSE:CAG) on Wednesday, July 6.

Conagra Brands Inc (NYSE:CAG) Ratings Coverage

Out of 12 analysts covering ConAgra Foods (NYSE:CAG), 5 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 42% are positive. ConAgra Foods has been the topic of 20 analyst reports since September 16, 2015 according to StockzIntelligence Inc. As per Thursday, September 24, the company rating was downgraded by TheStreet. The stock of Conagra Brands Inc (NYSE:CAG) earned “Overweight” rating by JP Morgan on Wednesday, April 6. The rating was initiated by Jefferies with “Buy” on Wednesday, December 16. RBC Capital Markets maintained the shares of CAG in a report on Friday, July 1 with “Sector Perform” rating. Deutsche Bank maintained Conagra Brands Inc (NYSE:CAG) rating on Friday, September 23. Deutsche Bank has “Hold” rating and $46 price target. Jefferies maintained the stock with “Buy” rating in Wednesday, July 27 report. The stock has “Neutral” rating given by Goldman Sachs on Thursday, February 25. The firm earned “Buy” rating on Friday, February 12 by Bank of America. As per Friday, September 25, the company rating was maintained by Deutsche Bank. The firm has “Outperform” rating by RBC Capital Markets given on Friday, October 14.

CAG Company Profile

Conagra Brands, Inc., formerly ConAgra Foods, Inc., incorporated on December 5, 1975, operates as a packaged food company. The Firm operates through two divisions: Consumer Foods and Commercial Foods. The Firm sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers. Conagra Foodservice offers products to restaurants, retailers, commercial clients and other foodservice suppliers. The Firm also operates in the countries outside the United States, such as Canada and Mexico. The Company’s brands include Marie Callender’s, Healthy Choice, Slim Jim, Hebrew National, Orville Redenbacher’s, Peter Pan, Reddi-wip, PAM, Snack Pack, Banquet, Chef Boyardee, Egg Beaters, Rosarita, Fleischmann’s and Hunt’s. The Firm sells its products in grocery, convenience, mass merchandise and club stores.

More important recent Conagra Brands Inc (NYSE:CAG) news were published by: Businesswire.com which released: “ConAgra Foods Completes Spin-off of Lamb Weston Business and Becomes Conagra …” on November 10, 2016, also Prnewswire.com published article titled: “Technical Reports on Consumer Goods Stocks — Flowers Foods, ConAgra Brands …”, Prnewswire.com published: “Marie Callender’s Partners With Habitat for Humanity on Comforts From Home Project” on November 11, 2016. More interesting news about Conagra Brands Inc (NYSE:CAG) was released by: Businesswire.com and their article: “Conagra Brands Announces Appointment of Craig P. Omtvedt to Its Board of Directors” with publication date: November 11, 2016.

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By Marie Mckinney

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