Lombard Odier Asset Management Europe Ltd Boosts Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Lombard Odier Asset Management Europe Ltd boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 297.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,145 shares of the company’s stock after acquiring an additional 114,607 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Conagra Brands were worth $4,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in shares of Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after acquiring an additional 633,794 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Conagra Brands by 3.5% in the second quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock valued at $65,209,000 after acquiring an additional 78,487 shares in the last quarter. Raymond James & Associates increased its stake in shares of Conagra Brands by 26.2% during the second quarter. Raymond James & Associates now owns 1,889,319 shares of the company’s stock worth $53,694,000 after acquiring an additional 392,305 shares during the period. Finally, AMF Tjanstepension AB purchased a new position in Conagra Brands during the first quarter worth about $47,980,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Citigroup dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Bank of America upped their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Evercore ISI reduced their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average target price of $31.10.

Conagra Brands Stock Performance

Shares of CAG opened at $32.30 on Monday. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.24. The stock has a market cap of $15.44 billion, a P/E ratio of 44.25, a PEG ratio of 2.88 and a beta of 0.32. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average of $30.87 and a two-hundred day moving average of $30.05.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. As a group, research analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Thursday, August 1st. Conagra Brands’s dividend payout ratio is presently 191.78%.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were 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 directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by corporate 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.