Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 31.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,436 shares of the company's stock after acquiring an additional 14,462 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Conagra Brands were worth $1,670,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its holdings in Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock worth $11,085,000 after acquiring an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company's stock valued at $1,196,000 after buying an additional 19,329 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after buying an additional 618,096 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Conagra Brands in the 3rd quarter valued at $1,020,000. Finally, Pacer Advisors Inc. boosted 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 valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.
Analyst Upgrades and Downgrades
CAG has been the subject of several research analyst reports. Citigroup lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. 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 report on Monday, December 23rd. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $30.00 to $28.00 and set a "hold" rating for the company in a report on Friday, January 24th. Finally, Bank of America lowered their target price 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. Seven equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $30.33.
Check Out Our Latest Analysis on Conagra Brands
Conagra Brands Stock Performance
Conagra Brands stock traded up $0.33 during trading hours on Friday, reaching $25.31. 6,372,535 shares of the stock were exchanged, compared to its average volume of 5,583,624. The stock has a market cap of $12.08 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.70 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 52-week low of $24.18 and a 52-week high of $33.24. The firm's 50 day moving average is $26.46 and its 200 day moving average is $28.73.
Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. Analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.
Conagra Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.53%. Conagra Brands's payout ratio is currently 137.26%.
About Conagra Brands
(
Free Report)
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.
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