Nordea Investment Management AB Purchases 618,096 Shares of Conagra Brands, Inc. (NYSE:CAG)

Nordea Investment Management AB lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,285,579 shares of the company’s stock after buying an additional 618,096 shares during the quarter. Nordea Investment Management AB owned about 2.57% of Conagra Brands worth $341,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Everence Capital Management Inc. boosted its position in shares of Conagra Brands by 14.2% in the 4th quarter. Everence Capital Management Inc. now owns 18,350 shares of the company’s stock worth $509,000 after purchasing an additional 2,280 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Conagra Brands by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock valued at $18,660,000 after acquiring an additional 3,597 shares during the last quarter. Inspire Trust Co. N.A. boosted its stake in Conagra Brands by 14.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 85,587 shares of the company’s stock worth $2,783,000 after acquiring an additional 11,000 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Conagra Brands during the third quarter valued at approximately $196,000. Finally, Sanctuary Advisors LLC increased its stake in Conagra Brands by 526.9% in the third quarter. Sanctuary Advisors LLC now owns 167,181 shares of the company’s stock valued at $5,437,000 after purchasing an additional 140,512 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

CAG opened at $27.65 on Monday. The business has a fifty day simple moving average of $27.81 and a 200 day simple moving average of $29.42. The company has a market capitalization of $13.20 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.06%. Conagra Brands’s dividend payout ratio is 137.25%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAG shares. Wells Fargo & Company decreased 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. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday. Citigroup lowered their price objective 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. Finally, Bank of America decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, 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.