Fmr LLC Acquires 67,079 Shares of Conagra Brands, Inc. (NYSE:CAG)

FMR LLC raised its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,478,380 shares of the company's stock after purchasing an additional 67,079 shares during the period. FMR LLC owned approximately 0.31% of Conagra Brands worth $48,077,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $25,000. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock valued at $30,000 after buying an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the 3rd quarter valued at approximately $47,000. Finally, Kennebec Savings Bank acquired a new position in shares of Conagra Brands in the 3rd quarter valued at approximately $59,000. Institutional investors own 83.75% of the company's stock.

Analyst Ratings Changes

CAG has been the subject of a number of research analyst reports. Bank of America lowered their price objective on shares of 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 reiterated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price objective 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. 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 price objective for the company. Finally, BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $31.63.

Conagra Brands Trading Down 2.1 %

Conagra Brands stock traded down $0.58 during mid-day trading on Friday, reaching $27.24. 4,986,933 shares of the company traded hands, compared to its average volume of 5,182,835. 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 firm's 50 day moving average price is $28.69 and its 200 day moving average price is $29.67. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.81 and a beta of 0.31. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The business's revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands's payout ratio is currently 135.92%.

Conagra Brands 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.