Cetera Investment Advisers boosted its holdings in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 14.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,374 shares of the company’s stock after acquiring an additional 10,271 shares during the quarter. Cetera Investment Advisers’ holdings in Conagra Brands were worth $2,710,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Conagra Brands by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 54,738,710 shares of the company’s stock valued at $1,837,578,000 after buying an additional 786,816 shares during the last quarter. State Street Corp boosted its position in shares of Conagra Brands by 12.8% during the 1st quarter. State Street Corp now owns 23,556,766 shares of the company’s stock valued at $790,801,000 after acquiring an additional 2,671,720 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Conagra Brands by 114.1% during the 2nd quarter. Nordea Investment Management AB now owns 14,735,860 shares of the company’s stock valued at $491,736,000 after acquiring an additional 7,854,021 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Conagra Brands by 1.5% during the 1st quarter. Macquarie Group Ltd. now owns 14,025,360 shares of the company’s stock valued at $526,755,000 after acquiring an additional 212,269 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Conagra Brands by 10.6% during the 1st quarter. American Century Companies Inc. now owns 10,944,425 shares of the company’s stock valued at $411,069,000 after acquiring an additional 1,053,165 shares in the last quarter. 84.27% of the stock is owned by hedge funds and other institutional investors.
Conagra Brands Stock Down 0.3 %
Shares of NYSE CAG opened at $28.10 on Tuesday. The firm’s 50-day simple moving average is $27.68 and its 200 day simple moving average is $31.20. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.61. The company has a quick ratio of 0.30, a current ratio of 0.91 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $41.30.
Conagra Brands Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 2nd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Wednesday, November 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 62.22%.
Analyst Ratings Changes
Several brokerages have recently weighed in on CAG. Royal Bank of Canada decreased their target price on shares of Conagra Brands from $36.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Friday, October 6th. Jefferies Financial Group lowered their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, October 6th. StockNews.com began coverage on shares of Conagra Brands in a research report on Thursday, October 5th. They set a “hold” rating for the company. The Goldman Sachs Group reduced their price target on shares of Conagra Brands from $37.00 to $33.00 in a research report on Thursday, October 5th. Finally, Barclays reduced their price target on shares of Conagra Brands from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, October 6th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $34.15.
In related news, Director Richard H. Lenny purchased 9,238 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were bought at an average price of $27.31 per share, with a total value of $252,289.78. Following the purchase, the director now directly owns 165,205 shares in the company, valued at approximately $4,511,748.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by company insiders.
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.
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