KBC Group NV Grows Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

KBC Group NV raised its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 297.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,469 shares of the company's stock after buying an additional 231,654 shares during the quarter. KBC Group NV owned about 0.06% of Conagra Brands worth $8,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the fourth quarter valued at $28,000. Hexagon Capital Partners LLC grew 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 valued at $30,000 after purchasing an additional 420 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands in the third quarter worth about $47,000. Finally, ST Germain D J Co. Inc. boosted its stake in Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock valued at $55,000 after buying an additional 529 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Up 1.3 %

Shares of NYSE:CAG traded up $0.33 on Thursday, reaching $26.23. The company had a trading volume of 2,941,209 shares, compared to its average volume of 5,414,752. The firm has a market capitalization of $12.52 billion, a PE ratio of 25.75, a PEG ratio of 1.72 and a beta of 0.29. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 52-week low of $25.06 and a 52-week high of $33.24. The firm's 50 day simple moving average is $27.01 and its 200-day simple moving average is $29.10.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm earned $0.71 earnings per share. Conagra Brands's revenue was down .4% compared to the same quarter last year. As a group, analysts expect that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.34%. Conagra Brands's payout ratio is 137.26%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAG. Barclays decreased their price objective on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Friday, January 24th. BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Seven 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.33.

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.