Healthcare of Ontario Pension Plan Trust Fund Buys 4,705 Shares of Conagra Brands, Inc. (NYSE:CAG)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Conagra Brands, Inc. (NYSE:CAG) by 235,250.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,707 shares of the company’s stock after acquiring an additional 4,705 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Conagra Brands were worth $153,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Marshall Wace LLP raised its position in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Conagra Brands by 20.5% in 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 last quarter. Squarepoint Ops LLC grew its position in Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after purchasing an additional 1,513,726 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Conagra Brands by 2,552.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after buying an additional 1,241,121 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

CAG stock opened at $27.82 on Tuesday. The company has a market capitalization of $13.28 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 2.84 and a beta of 0.34. The company’s fifty day moving average price is $29.17 and its 200-day moving average price is $29.78. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm posted $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, equities analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

Analysts Set New Price Targets

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

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.