DNB Asset Management AS reduced its holdings in Conagra Brands Inc (NYSE:CAG) by 39.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,475 shares of the company’s stock after selling 49,675 shares during the quarter. DNB Asset Management AS’s holdings in Conagra Brands were worth $2,094,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CAG. Norges Bank bought a new stake in Conagra Brands in the fourth quarter worth approximately $123,197,000. FMR LLC increased its holdings in Conagra Brands by 66.8% in the fourth quarter. FMR LLC now owns 11,151,772 shares of the company’s stock worth $238,201,000 after purchasing an additional 4,467,041 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Conagra Brands by 138.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,347,652 shares of the company’s stock worth $71,506,000 after purchasing an additional 1,943,380 shares in the last quarter. Geode Capital Management LLC increased its holdings in Conagra Brands by 36.8% in the fourth quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock worth $146,052,000 after purchasing an additional 1,840,875 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in Conagra Brands by 118.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 2,937,709 shares of the company’s stock worth $62,749,000 after purchasing an additional 1,590,664 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. ValuEngine upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 10th. Credit Suisse Group boosted their price objective on Conagra Brands from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Goldman Sachs Group set a $32.00 price objective on Conagra Brands and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Bank of America restated a “buy” rating and set a $30.00 price objective on shares of Conagra Brands in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Conagra Brands has a consensus rating of “Buy” and a consensus price target of $37.90.

NYSE CAG opened at $30.09 on Wednesday. The company has a market cap of $14.62 billion, a PE ratio of 13.99, a PEG ratio of 2.18 and a beta of 0.77. Conagra Brands Inc has a 52 week low of $20.22 and a 52 week high of $39.43. The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 1.49.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, March 21st. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.75 billion. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The company’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. On average, equities analysts anticipate that Conagra Brands Inc will post 2.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.82%. Conagra Brands’s dividend payout ratio is 40.28%.

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Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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