Sumitomo Mitsui Trust Group Inc. Has $39.86 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,225,637 shares of the company’s stock after buying an additional 30,685 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Conagra Brands were worth $39,858,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CAG. Avantax Advisory Services Inc. raised its holdings in Conagra Brands by 4.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock worth $334,000 after buying an additional 445 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Conagra Brands by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 502,891 shares of the company’s stock worth $14,906,000 after buying an additional 16,003 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Conagra Brands by 13.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,774 shares of the company’s stock valued at $17,066,000 after purchasing an additional 70,155 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Conagra Brands by 8.8% in the first quarter. Kingsview Wealth Management LLC now owns 8,589 shares of the company’s stock valued at $255,000 after purchasing an additional 695 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Conagra Brands by 11.2% in the first quarter. Blair William & Co. IL now owns 227,777 shares of the company’s stock valued at $6,751,000 after purchasing an additional 22,980 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

NYSE:CAG opened at $26.69 on Friday. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $30.20 and a 200 day simple moving average of $30.04. The stock has a market capitalization of $12.74 billion, a PE ratio of 25.91, a P/E/G ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released 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 return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.25%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. The Goldman Sachs Group started coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Bank of America lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.63.

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.