B. Metzler seel. Sohn & Co. Holding AG Acquires New Stake in Conagra Brands, Inc. (NYSE:CAG)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 30,402 shares of the company’s stock, valued at approximately $989,000.

Several other hedge funds have also recently added to or reduced their stakes in CAG. Innealta Capital LLC acquired a new position in Conagra Brands in the 2nd quarter valued at $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands in the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in Conagra Brands by 82.8% in 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 position in Conagra Brands in the 1st quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Conagra Brands in the 3rd quarter valued at $47,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Conagra Brands Stock Up 0.9 %

Shares of NYSE:CAG opened at $27.42 on Friday. The business has a 50-day moving average price of $29.67 and a 200 day moving average price of $29.91. 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 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 12-month low of $26.21 and a 12-month high of $33.24.

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 net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the business earned $0.66 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced 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 5.11%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

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.