Swedbank AB Acquires 20,384 Shares of Conagra Brands, Inc. (NYSE:CAG)

Swedbank AB increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 674,465 shares of the company's stock after purchasing an additional 20,384 shares during the period. Swedbank AB owned approximately 0.14% of Conagra Brands worth $21,934,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new stake in Conagra Brands in the 3rd quarter valued at $1,020,000. Pacer Advisors Inc. raised its holdings in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Conagra Brands during the 3rd quarter valued at about $3,829,000. Ontario Teachers Pension Plan Board bought a new stake in Conagra Brands during the 3rd quarter worth approximately $967,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Conagra Brands by 23.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,895 shares of the company's stock worth $2,668,000 after purchasing an additional 17,835 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Conagra Brands Stock Performance

Shares of CAG stock traded up $0.04 on Tuesday, hitting $27.49. 5,164,402 shares of the stock were exchanged, compared to its average volume of 4,765,954. The firm's 50 day moving average is $29.57 and its two-hundred day moving average is $29.88. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The firm has a market capitalization of $13.12 billion, a PE ratio of 26.69, a P/E/G ratio of 2.82 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

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 the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm earned $0.66 EPS. The business's revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

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

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.