Korea Investment CORP Grows Stake in Conagra Brands, Inc. (NYSE:CAG)

Korea Investment CORP boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 817,944 shares of the company's stock after purchasing an additional 101,865 shares during the quarter. Korea Investment CORP owned about 0.17% of Conagra Brands worth $22,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands during the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $29,000. Grove Bank & Trust increased its holdings 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 acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands in the 4th quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Stifel Nicolaus decreased their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Conagra Brands has a consensus rating of "Hold" and a consensus target price of $28.20.

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Conagra Brands Stock Performance

Shares of CAG traded up $0.56 during trading hours on Thursday, hitting $26.94. The stock had a trading volume of 3,085,095 shares, compared to its average volume of 5,076,304. The firm has a 50-day moving average price of $25.69 and a 200 day moving average price of $27.52. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm has a market capitalization of $12.86 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 1.76 and a beta of 0.18. 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 (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The company's revenue was down 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.20%. Conagra Brands's dividend payout ratio (DPR) is presently 137.25%.

About Conagra Brands

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.