Cerity Partners LLC Boosts Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Cerity Partners LLC grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 397,297 shares of the company's stock after purchasing an additional 24,103 shares during the period. Cerity Partners LLC owned approximately 0.08% of Conagra Brands worth $12,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. grew its position in Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the period. Pacer Advisors Inc. boosted its position in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock worth $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Conagra Brands by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company's stock valued at $122,602,000 after purchasing an additional 633,794 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Conagra Brands by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,985 shares of the company's stock valued at $100,909,000 after buying an additional 63,738 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Conagra Brands by 148.2% during the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company's stock worth $72,048,000 after buying an additional 1,513,726 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Trading Up 0.2 %

Conagra Brands stock traded up $0.05 during trading on Tuesday, reaching $27.50. 2,404,775 shares of the company were exchanged, compared to its average volume of 4,753,398. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The company has a market capitalization of $13.13 billion, a P/E ratio of 26.66, a PEG ratio of 2.82 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock's 50 day simple moving average is $29.57 and its two-hundred day simple moving average is $29.88.

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

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.09%. Conagra Brands's dividend payout ratio is currently 135.92%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They set a "buy" rating and a $36.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.