Tredje AP fonden Has $4.05 Million Stake in Conagra Brands, Inc. (NYSE:CAG)

Tredje AP fonden reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,649 shares of the company’s stock after selling 2,200 shares during the period. Tredje AP fonden’s holdings in Conagra Brands were worth $4,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Conagra Brands in the 4th quarter valued at approximately $140,473,000. Federated Hermes Inc. grew its holdings in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. AMF Tjanstepension AB bought a new position in shares of Conagra Brands in the first quarter valued at approximately $47,980,000. Junto Capital Management LP bought a new position in shares of Conagra Brands in the fourth quarter valued at approximately $36,069,000. Finally, Miller Howard Investments Inc. NY lifted its stake in shares of Conagra Brands by 523.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after buying an additional 1,214,859 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by insiders.

Conagra Brands Trading Up 0.5 %

Shares of CAG opened at $32.73 on Thursday. The stock’s 50-day moving average price is $30.63 and its 200 day moving average price is $29.96. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 44.84, a P/E/G ratio of 2.88 and a beta of 0.32. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. Conagra Brands’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS. As a group, research analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio is 191.78%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAG shares. Evercore ISI lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. The Goldman Sachs Group started coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company cut their price objective on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America increased their target price on Conagra Brands from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Citigroup dropped their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus target price of $31.10.

About Conagra Brands

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.