Swedbank AB Boosts Holdings in Conagra Brands $CAG

Key Points

• Swedbank AB increased its stake in Conagra Brands by 23.6%, owning over 1 million shares worth approximately $21.17 million as of the latest SEC filing.
• Conagra Brands recently declared a quarterly dividend of $0.35 per share, representing a 7.6% annualized yield and a dividend payout ratio of 58.58%.
• The company's quarterly earnings fell short of expectations, reporting $0.56 EPS against an estimate of $0.61, with revenue down 4.3% year-over-year.

Swedbank AB increased its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 23.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,034,087 shares of the company's stock after buying an additional 197,180 shares during the period. Swedbank AB owned about 0.22% of Conagra Brands worth $21,168,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. increased its holdings in Conagra Brands by 3.2% during the first quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company's stock worth $388,000 after buying an additional 450 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after buying an additional 452 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Conagra Brands by 33.6% during the first quarter. Hexagon Capital Partners LLC now owns 2,009 shares of the company's stock worth $54,000 after buying an additional 505 shares during the last quarter. Capstone Triton Financial Group LLC boosted its position in Conagra Brands by 1.5% during the fourth quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock worth $995,000 after purchasing an additional 535 shares during the period. Finally, Equitable Trust Co. boosted its position in Conagra Brands by 1.8% during the first quarter. Equitable Trust Co. now owns 29,927 shares of the company's stock worth $798,000 after purchasing an additional 536 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

CAG has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Conagra Brands in a research report on Wednesday, August 20th. They set a "neutral" rating and a $20.00 target price for the company. Evercore ISI cut their target price on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a research report on Friday, July 11th. The Goldman Sachs Group lowered shares of Conagra Brands from a "neutral" rating to a "sell" rating and cut their target price for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Wells Fargo & Company cut their target price on shares of 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. Finally, Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the stock a "market perform" rating in a research report on Friday, July 11th. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.17.

Conagra Brands Trading Down 1.2%

CAG stock opened at $18.53 on Friday. The company has a market capitalization of $8.87 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 1.77 and a beta of 0.07. Conagra Brands has a one year low of $18.18 and a one year high of $32.90. The company's 50 day moving average price is $19.10 and its two-hundred day moving average price is $22.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71.

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). The business had revenue of $2.78 billion for the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The company's revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. As a group, analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.6%. Conagra Brands's dividend payout ratio (DPR) is 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.

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