Healthcare of Ontario Pension Plan Trust Fund Raises Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 235,250.0% in the third quarter, Holdings Channel.com reports. The fund owned 4,707 shares of the company’s stock after acquiring an additional 4,705 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Conagra Brands were worth $153,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in shares of Conagra Brands during the second quarter worth $25,000. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands during the second quarter worth approximately $25,000. Hexagon Capital Partners LLC raised its stake in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands in the third quarter valued at approximately $47,000. Finally, Kennebec Savings Bank bought a new position in Conagra Brands in the third quarter worth approximately $59,000. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CAG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America reduced their target price 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. Wells Fargo & Company raised their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, 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 objective for the company. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Price Performance

NYSE CAG opened at $27.82 on Tuesday. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.84 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock’s fifty day moving average price is $29.17 and its 200 day moving average price is $29.78. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last issued 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 during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the company earned $0.66 EPS. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.03%. Conagra Brands’s payout ratio is currently 135.92%.

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.