Conagra Brands, Inc. (NYSE:CAG) Position Increased by PGGM Investments

PGGM Investments grew its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,571 shares of the company’s stock after acquiring an additional 1,824 shares during the period. PGGM Investments’ holdings in Conagra Brands were worth $590,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Naples Money Management LLC acquired a new position in shares of Conagra Brands in the 4th quarter valued at $26,000. Thompson Investment Management Inc. lifted its holdings in shares of Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. Authentikos Wealth Advisory LLC purchased a new position in shares of Conagra Brands during the third quarter valued at $33,000. Parkside Financial Bank & Trust lifted its stake in Conagra Brands by 48.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after acquiring an additional 454 shares in the last quarter. Finally, Peoples Bank KS acquired a new stake in Conagra Brands during the 3rd quarter worth about $47,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on CAG shares. Barclays raised their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Royal Bank of Canada lowered their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Citigroup lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company lifted their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.14.

Conagra Brands Stock Performance

Shares of CAG opened at $30.94 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The company’s fifty day moving average price is $29.31 and its 200 day moving average price is $28.72. The company has a market capitalization of $14.79 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 3.12 and a beta of 0.41.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. During the same quarter in the previous year, the firm earned $0.76 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.53%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio is currently 70.35%.

Conagra Brands 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.