Massmutual Trust Co. FSB ADV lowered its position in Conagra Brands Inc (NYSE:CAG) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,591 shares of the company’s stock after selling 4,892 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Conagra Brands were worth $1,551,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Princeton Global Asset Management LLC acquired a new position in Conagra Brands in the 4th quarter valued at $26,000. FMR LLC increased its stake in shares of Conagra Brands by 66.8% in the 4th quarter. FMR LLC now owns 11,151,772 shares of the company’s stock worth $238,201,000 after acquiring an additional 4,467,041 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Conagra Brands in the 4th quarter worth $205,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new stake in shares of Conagra Brands in the 4th quarter worth $478,000. Finally, Nordea Investment Management AB increased its stake in shares of Conagra Brands by 167.1% in the 4th quarter. Nordea Investment Management AB now owns 894,542 shares of the company’s stock worth $19,109,000 after acquiring an additional 559,602 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.
Shares of NYSE:CAG traded up $0.40 during midday trading on Friday, reaching $30.52. 4,119,437 shares of the company’s stock were exchanged, compared to its average volume of 6,887,854. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $39.43. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 2.21 and a beta of 0.77. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 1.49.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, April 30th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 40.28%.
A number of analysts have issued reports on the company. Goldman Sachs Group set a $32.00 target price on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, March 22nd. Credit Suisse Group raised their target price on Conagra Brands from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Bank of America set a $30.00 target price on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $37.90.
In other news, Director Joie A. Gregor bought 10,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was bought at an average cost of $29.99 per share, for a total transaction of $299,900.00. Following the acquisition, the director now directly owns 145,440 shares of the company’s stock, valued at approximately $4,361,745.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% of the company’s stock.
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About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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