AustralianSuper Pty Ltd Grows Stock Position in Conagra Brands, Inc. (NYSE:CAG)

AustralianSuper Pty Ltd raised its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 35.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 319,444 shares of the company's stock after buying an additional 82,732 shares during the period. AustralianSuper Pty Ltd owned about 0.07% of Conagra Brands worth $8,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System raised its position in Conagra Brands by 5.6% during the fourth quarter. New York State Teachers Retirement System now owns 388,055 shares of the company's stock valued at $10,769,000 after acquiring an additional 20,461 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $53,000. Edmp Inc. grew its stake in shares of Conagra Brands by 22.7% during the 4th quarter. Edmp Inc. now owns 7,880 shares of the company's stock worth $219,000 after purchasing an additional 1,458 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands during the 4th quarter valued at approximately $44,000. Finally, Essex Financial Services Inc. lifted its stake in shares of Conagra Brands by 307.6% in the 4th quarter. Essex Financial Services Inc. now owns 35,015 shares of the company's stock valued at $972,000 after purchasing an additional 26,424 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Price Performance

CAG traded up $0.37 on Wednesday, hitting $24.27. 5,358,234 shares of the company's stock were exchanged, compared to its average volume of 5,839,853. The firm has a 50-day moving average price of $26.26 and a 200-day moving average price of $28.59. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 1.72 and a beta of 0.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the prior year, the company earned $0.71 EPS. Conagra Brands's revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.77%. Conagra Brands's dividend payout ratio is presently 137.26%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAG. Bank of America cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, December 20th. Wells Fargo & Company reduced their price target on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday. Barclays lowered their price target on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Finally, Citigroup decreased their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $29.78.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.