Sumitomo Mitsui Trust Holdings Inc. Acquires 36,057 Shares of Conagra Brands, Inc. (NYSE:CAG)

Sumitomo Mitsui Trust Holdings Inc. raised its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,304,775 shares of the company's stock after buying an additional 36,057 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of Conagra Brands worth $37,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Street Markets LLC boosted its position in Conagra Brands by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 935 shares of the company's stock valued at $35,000 after buying an additional 451 shares during the last quarter. Riverview Trust Co grew its stake in Conagra Brands by 132.8% in the third quarter. Riverview Trust Co now owns 945 shares of the company's stock worth $26,000 after purchasing an additional 539 shares in the last quarter. Thompson Investment Management Inc. grew its stake in Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company's stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Conagra Brands in the fourth quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Conagra Brands in the second quarter worth about $35,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays lifted their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Citigroup lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Royal Bank of Canada decreased their price target on Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 3rd. Stifel Nicolaus lifted their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a "hold" rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $33.14.

Conagra Brands Stock Performance

Shares of CAG traded up $0.26 during mid-day trading on Friday, reaching $30.62. 4,850,813 shares of the company's stock traded hands, compared to its average volume of 5,251,885. The business's 50-day moving average price is $28.83 and its 200-day moving average price is $28.54. The stock has a market capitalization of $14.64 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 3.07 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $38.73.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. Equities analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.57%. Conagra Brands's payout ratio is 70.35%.

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.