Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Pensionfund Sabic

Pensionfund Sabic raised its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 36.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,500 shares of the company’s stock after acquiring an additional 13,000 shares during the period. Pensionfund Sabic’s holdings in Conagra Brands were worth $1,346,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC boosted its holdings 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 buying an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands during the 3rd quarter worth about $47,000. Kennebec Savings Bank acquired a new stake in shares of Conagra Brands during the 3rd quarter valued at about $59,000. Quarry LP grew its position in shares of Conagra Brands by 229.7% during the 3rd quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after acquiring an additional 1,268 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Conagra Brands by 27,057.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,901 shares of the company’s stock valued at $62,000 after purchasing an additional 1,894 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG opened at $26.88 on Tuesday. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The firm has a market capitalization of $12.83 billion, a PE 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. The firm’s 50-day moving average price is $27.75 and its 200 day moving average price is $29.41.

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

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued 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 dividend yield of 5.21%. Conagra Brands’s dividend payout ratio is presently 137.25%.

Analysts Set New Price Targets

Several analysts have commented on the company. Barclays dropped their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. 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 report on Tuesday, December 17th. Bank of America dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday. Seven investment 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.com, the company currently has a consensus 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.