Conagra Brands, Inc. (NYSE:CAG) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 113.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 959,968 shares of the company's stock after purchasing an additional 510,789 shares during the period. BNP Paribas Financial Markets owned approximately 0.20% of Conagra Brands worth $31,218,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Conagra Brands during the 2nd quarter valued at about $25,000. Chilton Capital Management LLC acquired a new stake in Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its position in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock worth $30,000 after purchasing an additional 420 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Conagra Brands in the first quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands during the 3rd quarter valued at $47,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

CAG traded up $0.10 during trading hours on Friday, hitting $27.55. 4,236,925 shares of the stock were exchanged, compared to its average volume of 4,761,094. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24. The stock has a 50-day simple moving average of $29.17 and a 200-day simple moving average of $29.79. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. Analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands's payout ratio is 135.92%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CAG shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They set a "buy" rating and a $36.00 price objective on the stock. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Finally, Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, October 3rd. Six 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $31.63.

Conagra Brands Company 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.