Legal & General Group Plc grew its position in shares of Conagra Brands Inc. (NYSE:CAG) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,147,538 shares of the company’s stock after buying an additional 11,023 shares during the period. Legal & General Group Plc owned about 0.53% of Conagra Brands worth $72,469,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC raised its position in shares of Conagra Brands by 7.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 100,470 shares of the company’s stock worth $3,593,000 after purchasing an additional 7,000 shares during the period. State of Tennessee Treasury Department raised its position in shares of Conagra Brands by 1.2% during the 2nd quarter. State of Tennessee Treasury Department now owns 1,360,161 shares of the company’s stock worth $48,640,000 after purchasing an additional 16,143 shares during the period. Alethea Capital Management LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $3,610,000. Sciencast Management LP acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $1,262,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Conagra Brands by 13.9% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,254,398 shares of the company’s stock worth $44,857,000 after purchasing an additional 153,309 shares during the period. 79.04% of the stock is currently owned by institutional investors.
Shares of Conagra Brands Inc. (CAG) opened at $37.47 on Monday. Conagra Brands Inc. has a 1 year low of $32.16 and a 1 year high of $41.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.03 and a quick ratio of 0.51. The company has a market capitalization of $15,306.42, a P/E ratio of 20.82, a P/E/G ratio of 2.83 and a beta of 0.37.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, October 13th were paid a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, October 30th. Conagra Brands’s payout ratio is currently 60.28%.
A number of analysts have recently weighed in on the company. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 target price on shares of Conagra Brands in a research report on Friday, September 29th. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, November 22nd. Morgan Stanley lowered their target price on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 25th. Finally, Credit Suisse Group restated a “hold” rating and issued a $39.00 target price on shares of Conagra Brands in a research report on Friday, August 11th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.03.
In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.79% of the company’s stock.
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Conagra Brands Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company 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.
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