DNB Asset Management AS Increases Position in Conagra Brands, Inc. (NYSE:CAG)

DNB Asset Management AS increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,286 shares of the company’s stock after buying an additional 3,948 shares during the period. DNB Asset Management AS’s holdings in Conagra Brands were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its stake in shares of Conagra Brands by 316.6% during the 4th quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after acquiring an additional 117,042 shares in the last quarter. Valley Wealth Managers Inc. grew its holdings in Conagra Brands by 7.7% in the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock valued at $14,840,000 after purchasing an additional 37,149 shares during the last quarter. Bessemer Group Inc. grew its holdings in Conagra Brands by 237.9% in the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after purchasing an additional 54,195 shares during the last quarter. Stifel Financial Corp increased its position in shares of Conagra Brands by 12.2% in the fourth quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock valued at $23,385,000 after buying an additional 88,576 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Conagra Brands by 60.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 71,374 shares of the company’s stock worth $2,046,000 after buying an additional 26,774 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Evercore ISI dropped their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Citigroup cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Barclays lowered their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company cut their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.18.

Conagra Brands Trading Down 0.4 %

Shares of NYSE CAG traded down $0.11 during trading on Tuesday, hitting $29.90. 3,181,335 shares of the company traded hands, compared to its average volume of 4,654,467. The firm has a market capitalization of $14.29 billion, a P/E ratio of 41.12, a P/E/G ratio of 2.65 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average price of $29.19 and a 200-day moving average price of $29.33. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $32.51.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.68%. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

About Conagra Brands

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.