Geode Capital Management LLC lifted its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,514,152 shares of the company's stock after acquiring an additional 196,100 shares during the quarter. Geode Capital Management LLC owned approximately 2.41% of Conagra Brands worth $373,180,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of CAG. State Street Corp lifted its stake in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company's stock valued at $796,229,000 after acquiring an additional 1,691,945 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. Pacer Advisors Inc. lifted its stake in 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 purchasing an additional 10,604,367 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company's stock worth $204,571,000 after purchasing an additional 122,590 shares during the period. Finally, Two Sigma Advisers LP increased its position in Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company's stock worth $197,624,000 after buying an additional 3,133,200 shares during the last quarter. Institutional investors own 83.75% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on CAG shares. Bank of America cut their price objective 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. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a 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 company an "equal weight" rating in a report on Thursday, October 17th. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, Citigroup reduced 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. Six equities 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 stock. Based on data from MarketBeat, Conagra Brands currently has an average rating of "Hold" and an average price target of $31.50.
Check Out Our Latest Report on CAG
Conagra Brands Stock Performance
Shares of CAG stock traded up $0.13 on Friday, hitting $28.20. The company's stock had a trading volume of 3,510,709 shares, compared to its average volume of 4,767,388. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The stock's 50 day moving average is $28.40 and its 200-day moving average is $29.59. The company has a market capitalization of $13.46 billion, a PE ratio of 27.38, a PEG ratio of 2.86 and a beta of 0.31.
Conagra Brands (NYSE:CAG - Get Free Report) last announced its 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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The business's revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts expect that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.
Conagra Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.96%. Conagra Brands's dividend payout ratio (DPR) is currently 135.92%.
Conagra Brands Company Profile
(
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.
Recommended Stories
![Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=CAG)
Before you consider Conagra Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Conagra Brands wasn't on the list.
While Conagra Brands currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.