Nissay Asset Management Corp Japan ADV lowered its stake in shares of Conagra Brands Inc (NYSE:CAG) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,450 shares of the company’s stock after selling 1,720 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Conagra Brands were worth $2,010,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in Conagra Brands in the 4th quarter worth about $123,197,000. FMR LLC boosted its stake in 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 buying an additional 4,467,041 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Conagra Brands by 138.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,347,652 shares of the company’s stock worth $71,506,000 after buying an additional 1,943,380 shares during the last quarter. Geode Capital Management LLC boosted its stake in Conagra Brands by 36.8% in the 4th quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock worth $146,052,000 after buying an additional 1,840,875 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Conagra Brands by 118.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 2,937,709 shares of the company’s stock worth $62,749,000 after buying an additional 1,590,664 shares during the last quarter. 83.55% of the stock is currently owned by institutional investors and hedge funds.
CAG opened at $29.10 on Friday. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.75 and a beta of 0.81. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.58 and a current ratio of 1.31. Conagra Brands Inc has a 1 year low of $20.22 and a 1 year high of $39.43.
The firm 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 $0.2125 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.92%. Conagra Brands’s dividend payout ratio is presently 40.28%.
Several equities research analysts recently commented on CAG shares. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. SunTrust Banks started coverage on Conagra Brands in a research report on Tuesday. They issued a “buy” rating and a $35.00 target price for the company. ValuEngine upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Goldman Sachs Group set a $32.00 price objective on Conagra Brands and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Credit Suisse Group lifted their target price on Conagra Brands from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $37.64.
In other news, Director Ruth Ann Marshall sold 6,717 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $31.00, for a total transaction of $208,227.00. Following the completion of the transaction, the director now directly owns 99,897 shares of the company’s stock, valued at approximately $3,096,807. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joie A. Gregor acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was acquired at an average cost of $29.99 per share, with a total value of $299,900.00. Following the completion of the acquisition, the director now owns 145,440 shares in the company, valued at approximately $4,361,745.60. The disclosure for this purchase can be found here. Corporate insiders own 0.92% of the company’s stock.
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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