Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.23 Million Position in Conagra Brands $CAG

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Conagra Brands by 17.7%, selling 18,000 shares to end with 83,780 shares worth approximately $2.23 million.
• Analysts have recently lowered their price targets on Conagra Brands, with Royal Bank of Canada reducing its target from $25 to $22, indicating a cautious outlook for the stock.
• Conagra Brands announced a $0.35 quarterly dividend to be paid on August 28th, representing an annual yield of 7.3% and a payout ratio of 58.58%.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 17.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,780 shares of the company's stock after selling 18,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Conagra Brands were worth $2,234,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Conagra Brands in the fourth quarter worth about $16,588,000. Townsquare Capital LLC boosted its position in shares of Conagra Brands by 107.3% during the fourth quarter. Townsquare Capital LLC now owns 18,067 shares of the company's stock worth $501,000 after buying an additional 9,353 shares during the period. Mariner LLC boosted its position in shares of Conagra Brands by 0.9% during the fourth quarter. Mariner LLC now owns 189,742 shares of the company's stock worth $5,265,000 after buying an additional 1,730 shares during the period. NewEdge Advisors LLC boosted its position in shares of Conagra Brands by 31.5% during the fourth quarter. NewEdge Advisors LLC now owns 22,587 shares of the company's stock worth $627,000 after buying an additional 5,415 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Conagra Brands by 767.5% during the fourth quarter. Marshall Wace LLP now owns 698,643 shares of the company's stock worth $19,387,000 after buying an additional 618,111 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAG has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research report on Friday, July 11th. UBS Group dropped their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Wells Fargo & Company dropped their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. began coverage on Conagra Brands in a report on Wednesday. They set a "neutral" rating and a $20.00 target price on the stock. Finally, Royal Bank Of Canada dropped their target price on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands has an average rating of "Hold" and an average target price of $22.17.

Conagra Brands Stock Up 1.6%

Shares of Conagra Brands stock traded up $0.3150 on Friday, hitting $19.6150. 8,159,295 shares of the company traded hands, compared to its average volume of 7,715,497. The company has a 50-day moving average price of $19.86 and a 200 day moving average price of $23.01. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a 12-month low of $18.18 and a 12-month high of $33.24. The company has a market cap of $9.39 billion, a PE ratio of 8.19, a PEG ratio of 1.84 and a beta of 0.08.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The company had revenue of $2,781,800 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. Sell-side analysts predict that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.1%. Conagra Brands's dividend payout ratio is currently 58.58%.

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.