Ontario Teachers Pension Plan Board Makes New $967,000 Investment in Conagra Brands, Inc. (NYSE:CAG)

Ontario Teachers Pension Plan Board bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 29,739 shares of the company's stock, valued at approximately $967,000.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Conagra Brands by 237.9% in the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company's stock worth $2,281,000 after purchasing an additional 54,195 shares during the period. Aigen Investment Management LP bought a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $1,020,000. UniSuper Management Pty Ltd raised its holdings in shares of Conagra Brands by 573.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company's stock worth $1,128,000 after purchasing an additional 32,396 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $3,829,000. Finally, Swedbank AB bought a new stake in shares of Conagra Brands in the 1st quarter worth approximately $18,268,000. Institutional investors own 83.75% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America reduced 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 note on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a "buy" rating and a $36.00 price objective for the company. Six equities 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 company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.63.

Conagra Brands Stock Up 2.4 %

Shares of NYSE:CAG opened at $27.12 on Thursday. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The firm has a fifty day moving average of $29.86 and a 200 day moving average of $29.95. The firm has a market capitalization of $12.94 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share 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 return on equity of 13.71% and a net margin of 4.14%. The business's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.16%. The ex-dividend date is Thursday, October 31st. Conagra Brands's dividend payout ratio is presently 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.

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