Skandinaviska Enskilda Banken AB publ boosted its holdings in Conagra Brands Inc. (NYSE:CAG) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,709 shares of the company’s stock after purchasing an additional 8,983 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Conagra Brands were worth $2,689,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CAG. Municipal Employees Retirement System of Michigan boosted its holdings in Conagra Brands by 35.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 18,040 shares of the company’s stock worth $646,000 after purchasing an additional 4,770 shares during the period. NGAM Advisors L.P. acquired a new position in Conagra Brands in the second quarter worth $519,000. Rothschild Asset Management Inc. boosted its holdings in Conagra Brands by 4.8% in the second quarter. Rothschild Asset Management Inc. now owns 17,666 shares of the company’s stock worth $632,000 after purchasing an additional 803 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Conagra Brands by 6.2% during the second quarter. Daiwa Securities Group Inc. now owns 12,000 shares of the company’s stock valued at $429,000 after acquiring an additional 700 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Conagra Brands by 24.3% during the second quarter. Sei Investments Co. now owns 152,679 shares of the company’s stock valued at $5,459,000 after acquiring an additional 29,800 shares during the period. 79.04% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on CAG. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, November 22nd. BidaskClub raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Credit Suisse Group reissued a “hold” rating and set a $39.00 price target on shares of Conagra Brands in a report on Friday, August 11th. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 price target on shares of Conagra Brands in a report on Friday, September 29th. Finally, Stifel Nicolaus raised shares of Conagra Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $36.00 to $38.00 in a report on Sunday, October 29th. They noted that the move was a valuation call. Three 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 stock. The company presently has an average rating of “Hold” and an average price target of $40.03.
Conagra Brands Inc. (CAG) opened at $37.17 on Wednesday. The stock has a market cap of $15,494.33, a price-to-earnings ratio of 21.07, a PEG ratio of 2.86 and a beta of 0.37. Conagra Brands Inc. has a 1-year low of $32.16 and a 1-year high of $41.68. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. sell-side analysts expect that Conagra Brands Inc. will post 1.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Friday, October 13th were issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.29%. The ex-dividend date was Monday, October 30th. Conagra Brands’s payout ratio is currently 60.28%.
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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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