Conagra Brands, Inc. (NYSE:CAG) Shares Bought by DnB Asset Management AS

DnB Asset Management AS grew its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,242 shares of the company's stock after buying an additional 15,347 shares during the quarter. DnB Asset Management AS's holdings in Conagra Brands were worth $3,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands during the 4th quarter worth about $28,000. Riverview Trust Co bought a new position in shares of Conagra Brands during the fourth quarter valued at approximately $29,000. Grove Bank & Trust boosted its stake in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Conagra Brands during the fourth quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the fourth quarter worth approximately $44,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of CAG stock traded up $0.33 during mid-day trading on Thursday, reaching $26.71. The stock had a trading volume of 11,471,056 shares, compared to its average volume of 5,108,167. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The business's fifty day moving average is $25.69 and its 200-day moving average is $27.52. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.76 and a beta of 0.18.

Remove Ads

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. On average, research analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. Conagra Brands's payout ratio is 137.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley began coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target for the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $28.20.

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.