Swedbank AB Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

Swedbank AB boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 674,465 shares of the company's stock after purchasing an additional 20,384 shares during the period. Swedbank AB owned about 0.14% of Conagra Brands worth $21,934,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Federated Hermes Inc. increased its holdings in Conagra Brands by 20.5% during 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. Dimensional Fund Advisors LP increased its holdings in Conagra Brands by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company's stock valued at $122,602,000 after purchasing an additional 633,794 shares during the period. Squarepoint Ops LLC increased its holdings in Conagra Brands by 148.2% during the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company's stock valued at $72,048,000 after purchasing an additional 1,513,726 shares during the period. Marshall Wace LLP grew its holdings in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company's stock worth $68,400,000 after acquiring an additional 2,242,186 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Conagra Brands by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company's stock worth $65,209,000 after acquiring an additional 78,487 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They set a "buy" rating and a $36.00 target price on the stock. Citigroup reduced their target price on Conagra Brands from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, June 28th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Six 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $31.63.

Conagra Brands Stock Up 2.0 %

Shares of CAG traded up $0.59 during mid-day trading on Thursday, reaching $30.31. The company had a trading volume of 6,675,142 shares, compared to its average volume of 4,774,871. 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 firm has a 50-day moving average price of $31.15 and a 200 day moving average price of $30.29. Conagra Brands, Inc. has a 52 week low of $26.62 and a 52 week high of $33.24. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business's revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.62%. Conagra Brands's dividend payout ratio (DPR) is presently 191.78%.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares of the company's stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

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.