DekaBank Deutsche Girozentrale Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

DekaBank Deutsche Girozentrale grew its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 14.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,140 shares of the company's stock after acquiring an additional 22,306 shares during the period. DekaBank Deutsche Girozentrale's holdings in Conagra Brands were worth $5,521,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAG. Innealta Capital LLC purchased a new position in Conagra Brands during the 2nd quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in Conagra Brands in the second quarter worth $25,000. Hexagon Capital Partners LLC increased 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 worth $30,000 after purchasing an additional 420 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company's stock valued at $42,000 after purchasing an additional 836 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Conagra Brands in the 1st quarter worth $42,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CAG shares. Stifel Nicolaus lowered their price target on Conagra Brands from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, July 12th. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a "buy" rating and a $36.00 price objective on the stock. 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 Thursday, October 3rd. Finally, Bank of America cut their price objective on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $31.63.

Insider Transactions at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 161,443 shares of the company's stock, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.51% of the company's stock.

Conagra Brands Stock Performance

CAG stock traded up $0.03 during midday trading on Friday, hitting $28.97. 3,369,556 shares of the stock traded hands, compared to its average volume of 4,712,450. The stock's fifty day simple moving average is $30.92 and its 200-day simple moving average is $30.23. The firm has a market cap of $13.83 billion, a P/E ratio of 28.13, a PEG ratio of 3.03 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.83%. The ex-dividend date is Thursday, October 31st. Conagra Brands's dividend payout ratio is currently 135.92%.

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.