BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 49,808 Shares of Conagra Brands, Inc. (NYSE:CAG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.3% in the third quarter, Holdings Channel reports. The institutional investor owned 254,942 shares of the company’s stock after selling 49,808 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Conagra Brands were worth $8,291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Chilton Capital Management LLC bought a new stake in Conagra Brands during the second quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in Conagra Brands during the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its holdings in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Conagra Brands in the 1st quarter worth $42,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Conagra Brands during the 3rd quarter worth $47,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.9 %

Shares of CAG opened at $27.42 on Monday. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.80 and a beta of 0.34. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The stock’s 50-day moving average price is $29.67 and its 200-day moving average price is $29.90. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

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

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.11%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Wall Street Analysts Forecast Growth

CAG has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Bank of America decreased their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.63.

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.