Swedbank AB Boosts Position in Conagra Brands, Inc. (NYSE:CAG)

Swedbank AB increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 674,465 shares of the company’s stock after purchasing an additional 20,384 shares during the quarter. Swedbank AB owned approximately 0.14% of Conagra Brands worth $21,934,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its stake in Conagra Brands by 0.4% during the third quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after purchasing an additional 359 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Conagra Brands by 7.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after buying an additional 373 shares during the last quarter. Czech National Bank lifted its stake in Conagra Brands by 0.5% in the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after buying an additional 392 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC lifted its stake in Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock valued at $1,184,000 after buying an additional 430 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CAG shares. Citigroup reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Stifel Nicolaus reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Price Performance

Conagra Brands stock opened at $29.72 on Thursday. The business has a 50 day simple moving average of $31.15 and a 200-day simple moving average of $30.29. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24. The stock has a market capitalization of $14.21 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company earned $0.66 EPS. The company’s revenue was down 3.8% on a year-over-year basis. Equities analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 191.78%.

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.