Handelsbanken Fonder AB Sells 127,805 Shares of Conagra Brands, Inc. (NYSE:CAG)

Handelsbanken Fonder AB reduced its position in Conagra Brands, Inc. (NYSE:CAG) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 439,330 shares of the company’s stock after selling 127,805 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.09% of Conagra Brands worth $12,591,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Conagra Brands by 329.5% in the 4th quarter. CWM LLC now owns 83,292 shares of the company’s stock valued at $2,387,000 after purchasing an additional 63,897 shares during the last quarter. Signaturefd LLC boosted its stake in Conagra Brands by 36.7% during the fourth quarter. Signaturefd LLC now owns 25,251 shares of the company’s stock worth $724,000 after acquiring an additional 6,774 shares in the last quarter. abrdn plc boosted its stake in Conagra Brands by 16.8% during the fourth quarter. abrdn plc now owns 215,059 shares of the company’s stock worth $6,164,000 after acquiring an additional 30,915 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Conagra Brands by 2.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 734,629 shares of the company’s stock worth $21,054,000 after acquiring an additional 19,609 shares in the last quarter. Finally, Kraft Davis & Associates LLC bought a new position in Conagra Brands during the fourth quarter worth $235,000. 83.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAG. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Citigroup increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada cut their target price on shares of 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. Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Finally, Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands Stock Performance

CAG opened at $31.27 on Wednesday. The company’s fifty day moving average price is $28.98 and its two-hundred day moving average price is $28.61. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.12 and a beta of 0.42. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $38.73.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be issued a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.48%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Conagra Brands Company 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.