AIA Group Ltd Has $451,000 Stock Position in Conagra Brands, Inc. (NYSE:CAG)

AIA Group Ltd grew its position in Conagra Brands, Inc. (NYSE:CAG) by 19.6% during the third quarter, HoldingsChannel reports. The firm owned 13,856 shares of the company’s stock after buying an additional 2,275 shares during the period. AIA Group Ltd’s holdings in Conagra Brands were worth $451,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Courier Capital LLC lifted its stake in Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after buying an additional 355 shares during the period. CWM LLC increased its stake in shares of Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after acquiring an additional 359 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after acquiring an additional 376 shares during the period. Bridgewater Advisors Inc. boosted its stake in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after acquiring an additional 376 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in 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 acquiring an additional 420 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CAG shares. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America reduced their price objective 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average price target of $31.63.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company’s stock.

Conagra Brands Stock Performance

CAG stock opened at $28.44 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. The firm has a market cap of $13.57 billion, a PE ratio of 27.61, a P/E/G ratio of 2.98 and a beta of 0.34. The business has a 50 day moving average of $30.67 and a 200-day moving average of $30.16. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. As a group, sell-side analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current 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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is 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.