Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,225,637 shares of the company's stock after buying an additional 30,685 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Conagra Brands worth $39,858,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CAG. Innealta Capital LLC purchased a new stake in shares of Conagra Brands during the 2nd quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands in the second quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its holdings in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock worth $30,000 after acquiring an additional 420 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Conagra Brands during the first quarter worth about $42,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands during the third quarter valued at about $47,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Price Performance

CAG stock traded down $0.75 during trading on Friday, hitting $26.70. The stock had a trading volume of 10,674,028 shares, compared to its average volume of 4,736,162. The company's 50-day moving average price is $30.20 and its two-hundred day moving average price is $30.04. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The stock has a market capitalization of $12.74 billion, a P/E ratio of 25.92, a PEG ratio of 2.85 and a beta of 0.34. 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 posted 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 for 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 was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business 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 dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.24%. Conagra Brands's payout ratio is 135.92%.

Analyst Ratings Changes

A number of research analysts have issued reports on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group started coverage on Conagra Brands in a report on Monday, August 12th. They issued 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 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a 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 issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $31.63.

Conagra Brands 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.