Swiss National Bank Grows Position in Conagra Brands, Inc. (NYSE:CAG)

Swiss National Bank grew its stake in Conagra Brands, Inc. (NYSE:CAG) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,419,312 shares of the company’s stock after buying an additional 3,900 shares during the quarter. Swiss National Bank owned approximately 0.30% of Conagra Brands worth $46,156,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Courier Capital LLC increased its holdings in Conagra Brands by 1.3% in the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after acquiring an additional 355 shares in the last quarter. CWM LLC increased its stake in shares of Conagra Brands by 0.4% in 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 in the last quarter. Empirical Finance LLC raised its position in shares of Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after purchasing an additional 362 shares during the period. Arkadios Wealth Advisors lifted its stake in shares of Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after buying an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its holdings in Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after buying an additional 376 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 2.4 %

Shares of NYSE:CAG opened at $27.12 on Thursday. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.75 and a beta of 0.34. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $29.86 and a 200 day moving average price of $29.95.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS 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 company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the firm posted $0.66 EPS. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.16%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price target 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. Finally, Bank of America dropped their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.63.

Conagra Brands Company 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.