National Pension Service lifted its stake in Conagra Brands Inc (NYSE:CAG) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 477,539 shares of the company’s stock after acquiring an additional 32,863 shares during the period. National Pension Service owned 0.10% of Conagra Brands worth $11,327,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Conagra Brands by 44.3% during the 3rd quarter. SG Americas Securities LLC now owns 29,816 shares of the company’s stock worth $1,013,000 after acquiring an additional 9,158 shares during the period. MML Investors Services LLC purchased a new stake in Conagra Brands during the 3rd quarter worth approximately $272,000. American International Group Inc. increased its stake in Conagra Brands by 6.3% during the 3rd quarter. American International Group Inc. now owns 141,559 shares of the company’s stock worth $4,809,000 after buying an additional 8,448 shares in the last quarter. FMR LLC increased its stake in Conagra Brands by 59.3% during the 3rd quarter. FMR LLC now owns 6,684,731 shares of the company’s stock worth $227,081,000 after buying an additional 2,487,451 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Conagra Brands by 20.4% during the 3rd quarter. Schroder Investment Management Group now owns 66,481 shares of the company’s stock worth $2,258,000 after buying an additional 11,263 shares in the last quarter. 84.82% of the stock is owned by institutional investors.
Several equities research analysts have commented on CAG shares. Barclays reiterated a “buy” rating and set a $30.00 price objective on shares of Conagra Brands in a research note on Sunday, December 23rd. Zacks Investment Research reiterated a “sell” rating on shares of Conagra Brands in a research note on Monday, December 31st. Goldman Sachs Group lowered Conagra Brands from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Bank of America set a $30.00 price target on Conagra Brands and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Credit Suisse Group upped their price target on Conagra Brands from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $37.90.
Shares of NYSE CAG traded up $0.40 during mid-day trading on Friday, hitting $30.52. The company had a trading volume of 4,119,437 shares, compared to its average volume of 6,887,854. The stock has a market cap of $14.83 billion, a P/E 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. Conagra Brands Inc has a 1-year low of $20.22 and a 1-year high of $39.43.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, March 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. On average, equities analysts forecast that Conagra Brands Inc will post 2.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio is 40.28%.
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Conagra Brands Profile
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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