KLP Kapitalforvaltning AS increased its holdings in Conagra Brands (NYSE:CAG - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,414 shares of the company's stock after purchasing an additional 16,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Conagra Brands were worth $5,265,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of CAG. Alpine Bank Wealth Management acquired a new stake in shares of Conagra Brands in the first quarter valued at about $26,000. Capital Advisors Ltd. LLC increased its stake in shares of Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after buying an additional 452 shares during the period. Golden State Wealth Management LLC raised its holdings in Conagra Brands by 235.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 741 shares during the last quarter. Wayfinding Financial LLC bought a new position in Conagra Brands during the 1st quarter worth approximately $34,000. Finally, AdvisorNet Financial Inc raised its holdings in Conagra Brands by 86.1% during the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after purchasing an additional 690 shares during the last quarter. Institutional investors own 83.75% of the company's stock.
Analyst Ratings Changes
Several research analysts have issued reports on CAG shares. UBS Group lowered their price target on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, July 11th. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Stifel Nicolaus lowered 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. Royal Bank Of Canada lowered their price objective on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, July 11th. Finally, Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a "market perform" rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.58.
Get Our Latest Analysis on CAG
Conagra Brands Trading Up 0.5%
Shares of CAG traded up $0.10 during trading hours on Tuesday, hitting $19.30. The company had a trading volume of 3,830,988 shares, compared to its average volume of 7,303,248. The firm has a market cap of $9.21 billion, a P/E ratio of 8.09, a P/E/G ratio of 1.84 and a beta of 0.11. The stock's 50 day moving average price is $21.11 and its 200 day moving average price is $23.82. 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 52-week low of $18.67 and a 52-week high of $33.24.
Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The company had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the firm earned $0.61 earnings per share. Conagra Brands's revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts predict that Conagra Brands will post 2.35 EPS for the current year.
Conagra Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.26%. Conagra Brands's dividend payout ratio is presently 58.58%.
Conagra Brands Profile
(
Free Report)
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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