abrdn plc Acquires 30,915 Shares of Conagra Brands, Inc. (NYSE:CAG)

abrdn plc lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,059 shares of the company's stock after buying an additional 30,915 shares during the quarter. abrdn plc's holdings in Conagra Brands were worth $6,164,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Naples Money Management LLC purchased a new stake in Conagra Brands in the 4th quarter worth approximately $26,000. Thompson Investment Management Inc. lifted its stake in Conagra Brands by 100.0% in the 3rd 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. Authentikos Wealth Advisory LLC purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $33,000. Quent Capital LLC lifted its stake in Conagra Brands by 313.4% in the 4th quarter. Quent Capital LLC now owns 1,666 shares of the company's stock worth $48,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Peoples Bank KS purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $47,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAG has been the topic of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 3rd. 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 report on Friday, April 5th. Citigroup increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Barclays increased their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. Finally, Stifel Nicolaus increased their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a "hold" rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $33.14.

Conagra Brands Trading Down 0.6 %

Shares of CAG stock traded down $0.19 on Friday, hitting $31.08. 3,322,417 shares of the company's stock traded hands, compared to its average volume of 5,524,899. 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 one year low of $25.16 and a one year high of $38.73. The company's fifty day simple moving average is $29.23 and its 200 day simple moving average is $28.69. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 3.12 and a beta of 0.42.

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

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Monday, April 29th. Conagra Brands's dividend payout ratio (DPR) is presently 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.