Principal Financial Group Inc. Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

Principal Financial Group Inc. raised its position in Conagra Brands, Inc. (NYSE:CAG) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 573,789 shares of the company’s stock after purchasing an additional 3,597 shares during the quarter. Principal Financial Group Inc.’s holdings in Conagra Brands were worth $18,660,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in Conagra Brands during the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new stake in Conagra Brands during the second quarter worth about $25,000. Hexagon Capital Partners LLC lifted its position 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 worth $30,000 after purchasing an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the third quarter valued at approximately $47,000. Finally, Kennebec Savings Bank purchased a new stake in Conagra Brands during the 3rd quarter worth approximately $59,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAG has been the subject of several recent research reports. Citigroup decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Wells Fargo & Company lowered their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Barclays decreased their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.75.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $27.55 on Friday. 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, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The firm’s 50 day moving average is $28.04 and its two-hundred day moving average is $29.46. The firm has a market capitalization of $13.15 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.91 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $0.71 EPS. The company’s revenue was down .4% on a year-over-year basis. Research analysts forecast that Conagra Brands, Inc. will post 2.58 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.08%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

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.