Conagra Brands, Inc. (NYSE:CAG) Position Trimmed by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 22.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 439,330 shares of the company's stock after selling 127,805 shares during the period. Handelsbanken Fonder AB owned about 0.09% of Conagra Brands worth $12,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CAG. Invesco Ltd. grew its holdings in shares of Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company's stock worth $265,294,000 after buying an additional 2,619,372 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company's stock worth $388,580,000 after purchasing an additional 1,737,380 shares during the period. Barclays PLC boosted its holdings in shares of Conagra Brands by 75.7% during the third quarter. Barclays PLC now owns 3,748,848 shares of the company's stock worth $102,792,000 after purchasing an additional 1,614,986 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Conagra Brands by 18.7% in the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company's stock valued at $241,517,000 after purchasing an additional 1,330,249 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in Conagra Brands by 401.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company's stock valued at $41,663,000 after purchasing an additional 1,216,389 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CAG shares. Stifel Nicolaus raised 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. Citigroup boosted their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, April 5th. Royal Bank of Canada lowered their price objective on shares of 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. Finally, Barclays increased their target price on Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $33.14.

Conagra Brands Stock Up 0.9 %

CAG traded up $0.29 on Wednesday, reaching $31.56. The company's stock had a trading volume of 6,865,580 shares, compared to its average volume of 5,120,700. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $38.73. The business's 50 day moving average is $29.07 and its 200 day moving average is $28.63. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 3.12 and a beta of 0.42.

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, topping analysts' consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands's payout ratio is currently 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.