Pensionfund Sabic Raises Holdings in Conagra Brands, Inc. (NYSE:CAG)

Pensionfund Sabic increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 36.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,500 shares of the company’s stock after buying an additional 13,000 shares during the period. Pensionfund Sabic’s holdings in Conagra Brands were worth $1,346,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAG. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $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 3rd quarter worth approximately $47,000. Kennebec Savings Bank bought a new position in shares of Conagra Brands during the third quarter valued at approximately $59,000. Quarry LP increased its holdings in Conagra Brands by 229.7% during the third quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after buying an additional 1,268 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its stake in Conagra Brands by 27,057.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,901 shares of the company’s stock worth $62,000 after buying an additional 1,894 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 2.8 %

NYSE:CAG opened at $26.88 on Tuesday. The company has a market capitalization of $12.83 billion, a P/E ratio of 26.10, a PEG ratio of 2.91 and a beta of 0.29. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24. The firm has a fifty day simple moving average of $27.75 and a 200-day simple moving average of $29.41.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.21%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. 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 Friday, December 20th. Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on shares of 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. Finally, JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.56.

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.