State Street Corp Grows Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

State Street Corp boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,484,277 shares of the company's stock after buying an additional 1,691,945 shares during the period. State Street Corp owned approximately 5.13% of Conagra Brands worth $796,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Conagra Brands in the 3rd quarter worth $414,000. Quantinno Capital Management LP raised its holdings in shares of Conagra Brands by 171.2% during the third quarter. Quantinno Capital Management LP now owns 315,422 shares of the company's stock worth $10,258,000 after purchasing an additional 199,119 shares during the last quarter. Quarry LP raised its stake in shares of Conagra Brands by 229.7% during the 3rd quarter. Quarry LP now owns 1,820 shares of the company's stock valued at $59,000 after buying an additional 1,268 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Conagra Brands by 1,404.5% in the third quarter. Point72 Asset Management L.P. now owns 784,620 shares of the company's stock valued at $25,516,000 after acquiring an additional 732,468 shares during the period. Finally, Ilex Capital Partners UK LLP purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $46,990,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Down 2.1 %

Shares of CAG stock traded down $0.58 on Friday, hitting $27.24. 4,986,933 shares of the stock traded hands, compared to its average volume of 5,182,835. The stock has a market capitalization of $13.00 billion, a PE ratio of 26.45, a PEG ratio of 2.81 and a beta of 0.31. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month 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 firm's 50-day moving average price is $28.69 and its two-hundred day moving average price is $29.67.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data 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). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company's quarterly revenue was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.14%. Conagra Brands's dividend payout ratio (DPR) is presently 135.92%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAG. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They issued a "buy" rating and a $36.00 price target for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. 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 note on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands has a consensus rating of "Hold" and an average target price of $31.63.

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.