Keybank National Association OH grew its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 35.4% in the 1st quarter, HoldingsChannel reports. The fund owned 81,867 shares of the company’s stock after buying an additional 21,417 shares during the period. Keybank National Association OH’s holdings in Conagra Brands were worth $2,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Conagra Brands in the fourth quarter valued at approximately $123,197,000. FMR LLC increased its stake in shares of Conagra Brands by 66.8% in the fourth quarter. FMR LLC now owns 11,151,772 shares of the company’s stock valued at $238,201,000 after buying an additional 4,467,041 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of 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 valued at $71,506,000 after buying an additional 1,943,380 shares during the period. Geode Capital Management LLC increased its stake in shares of Conagra Brands by 36.8% in the fourth quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock valued at $146,052,000 after buying an additional 1,840,875 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of 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 valued at $62,749,000 after buying an additional 1,590,664 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Joie A. Gregor bought 10,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 16th. The shares were acquired at an average cost of $29.99 per share, for a total transaction of $299,900.00. Following the completion of the acquisition, the director now directly owns 145,440 shares of the company’s stock, valued at approximately $4,361,745.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Ann Marshall sold 6,717 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $31.00, for a total value of $208,227.00. Following the completion of the sale, the director now owns 99,897 shares in the company, valued at $3,096,807. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

Several research analysts have recently issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Conagra Brands in a research note on Thursday, April 11th. Credit Suisse Group upped their price objective on Conagra Brands from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, May 20th. They issued an “equal weight” rating and a $31.00 price objective for the company. Finally, SunTrust Banks assumed coverage on Conagra Brands in a research note on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $37.08.

Shares of CAG stock opened at $28.83 on Friday. Conagra Brands Inc has a one year low of $20.22 and a one year high of $39.43. The company has a market capitalization of $14.01 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.97 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 1.49.

Conagra Brands (NYSE:CAG) last announced its earnings results 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. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The firm’s revenue was up 35.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Conagra Brands Inc will post 2.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, April 30th will be issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio is presently 40.28%.

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About Conagra Brands

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.

See Also: Asset Allocation, Balancing Your Investments

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

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