Robeco Institutional Asset Management B.V. cut its holdings in Conagra Brands Inc (NYSE:CAG) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 299,355 shares of the company’s stock after selling 49,507 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Conagra Brands were worth $8,305,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CAG. Norges Bank bought a new position in Conagra Brands in the fourth quarter valued at approximately $123,197,000. FMR LLC boosted its stake in 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 acquiring an additional 4,467,041 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake 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 valued at $71,506,000 after acquiring an additional 1,943,380 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $146,052,000 after acquiring an additional 1,840,875 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake 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 valued at $62,749,000 after acquiring an additional 1,590,664 shares during the last quarter. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
CAG has been the topic of a number of recent research reports. Credit Suisse Group raised their price objective on shares of 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 shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. SunTrust Banks began coverage on shares of Conagra Brands in a research report on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. Goldman Sachs Group set a $32.00 price target on shares of Conagra Brands and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.64.
Shares of NYSE CAG opened at $28.60 on Wednesday. The firm has a market cap of $13.66 billion, a PE ratio of 13.55, a PEG ratio of 1.94 and a beta of 0.81. Conagra Brands Inc has a twelve month low of $20.22 and a twelve month high of $39.43. 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 quarterly earnings results on Thursday, March 21st. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Conagra Brands had a net margin of 6.99% and a return on equity of 16.40%. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that Conagra Brands Inc will post 2.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, April 30th will be given a $0.2125 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.85 annualized dividend and a yield of 2.97%. Conagra Brands’s dividend payout ratio is currently 40.28%.
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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