Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Czech National Bank

Czech National Bank raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,587 shares of the company’s stock after purchasing an additional 6,488 shares during the quarter. Czech National Bank’s holdings in Conagra Brands were worth $3,174,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall Wace LLP grew its holdings in shares of Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. AMF Tjanstepension AB purchased a new stake in shares of Conagra Brands during the first quarter worth approximately $47,980,000. Squarepoint Ops LLC grew its position in Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after buying an additional 1,513,726 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in Conagra Brands by 523.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after buying an additional 1,214,859 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAG has been the subject of several recent analyst reports. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Citigroup dropped their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Wells Fargo & Company reduced their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Six 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Down 0.2 %

Conagra Brands stock opened at $29.37 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.51 and a fifty-two week high of $33.24. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 40.23, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. The stock’s fifty day moving average is $31.17 and its two-hundred day moving average is $30.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. Analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 4.77%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insiders Place Their Bets

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

About Conagra Brands

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.