Northwest & Ethical Investments L.P. Has $1.60 Million Position in Conagra Brands $CAG

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in Conagra Brands by 42% during the first quarter, now owning 60,024 shares valued at approximately $1.60 million.
• Several institutional investors have also augmented their positions in Conagra Brands, with Vanguard Group raising its stake by 2.7%, totaling approximately $1.61 billion in shares.
• Conagra Brands recently reported a $0.56 EPS for the latest quarter, missing expectations and indicating a revenue decline of 4.3% year-over-year.

Northwest & Ethical Investments L.P. boosted its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 42.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,024 shares of the company's stock after purchasing an additional 17,748 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Conagra Brands were worth $1,601,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Conagra Brands by 2.7% during the first quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company's stock worth $1,610,971,000 after purchasing an additional 1,604,893 shares during the period. Invesco Ltd. boosted its position in Conagra Brands by 6.3% during the first quarter. Invesco Ltd. now owns 11,859,985 shares of the company's stock worth $316,306,000 after purchasing an additional 698,630 shares during the period. Dimensional Fund Advisors LP boosted its position in Conagra Brands by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company's stock worth $217,686,000 after purchasing an additional 2,702,407 shares during the period. Two Sigma Advisers LP boosted its position in Conagra Brands by 33.9% during the fourth quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after purchasing an additional 2,058,000 shares during the period. Finally, Deutsche Bank AG boosted its position in Conagra Brands by 51.6% during the fourth quarter. Deutsche Bank AG now owns 5,664,293 shares of the company's stock worth $157,184,000 after purchasing an additional 1,928,883 shares during the period. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of NYSE CAG traded up $0.3730 during trading hours on Friday, reaching $19.6730. The stock had a trading volume of 12,181,329 shares, compared to its average volume of 10,600,031. The business's fifty day moving average is $19.82 and its two-hundred day moving average is $22.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 1.85 and a beta of 0.08. Conagra Brands has a twelve month low of $18.18 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its 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). The firm had revenue of $2,781,800 billion during the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, research analysts expect that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CAG. Wells Fargo & Company decreased their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Royal Bank Of Canada reduced 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. JPMorgan Chase & Co. assumed coverage on Conagra Brands in a research report on Wednesday. They issued a "neutral" rating and a $20.00 price objective for the company. Sanford C. Bernstein set a $21.00 price objective on Conagra Brands and gave the company a "market perform" rating in a research report on Friday, July 11th. Finally, Barclays reduced their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $22.17.

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.