Handelsbanken Fonder AB Lowers Stake in Conagra Brands, Inc. (NYSE:CAG)

Handelsbanken Fonder AB cut its position in Conagra Brands, Inc. (NYSE:CAG) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 439,330 shares of the company’s stock after selling 127,805 shares during the quarter. Handelsbanken Fonder AB’s holdings in Conagra Brands were worth $12,591,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

CAG has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Royal Bank of Canada dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Stifel Nicolaus upped their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Finally, Citigroup upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus target price of $33.14.

Conagra Brands Trading Up 0.5 %

Shares of CAG stock opened at $31.27 on Wednesday. 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 twelve month low of $25.16 and a twelve month high of $38.73. The company has a market capitalization of $14.95 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 3.12 and a beta of 0.42. The business’s 50 day moving average is $28.98 and its two-hundred day moving average is $28.61.

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

Conagra Brands Announces Dividend

The business also recently declared 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 of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.48%. Conagra Brands’s dividend payout ratio (DPR) is 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.