Fifth Third Bancorp boosted its holdings in Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 9.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,700 shares of the company’s stock after acquiring an additional 1,564 shares during the quarter. Fifth Third Bancorp’s holdings in Conagra Brands were worth $610,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Conagra Brands by 1.5% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Conagra Brands by 11.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 27,918,907 shares of the company’s stock valued at $955,943,000 after buying an additional 2,969,072 shares in the last quarter. State Street Corp boosted its stake in Conagra Brands by 0.8% in the second quarter. State Street Corp now owns 23,749,862 shares of the company’s stock valued at $813,195,000 after buying an additional 193,096 shares in the last quarter. Invesco Ltd. raised its position in Conagra Brands by 10.7% in the first quarter. Invesco Ltd. now owns 8,716,615 shares of the company’s stock valued at $292,616,000 after purchasing an additional 841,538 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Conagra Brands by 20.4% in the second quarter. Federated Hermes Inc. now owns 6,112,442 shares of the company’s stock valued at $209,290,000 after purchasing an additional 1,034,123 shares during the last quarter. 81.08% of the stock is owned by institutional investors and hedge funds.
Conagra Brands Trading Down 1.3 %
NYSE CAG opened at $40.42 on Tuesday. The business has a 50 day simple moving average of $37.47 and a 200 day simple moving average of $35.45. Conagra Brands, Inc. has a one year low of $30.06 and a one year high of $41.30. The stock has a market capitalization of $19.37 billion, a P/E ratio of 28.67, a P/E/G ratio of 2.20 and a beta of 0.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.29.
Conagra Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Investors of record on Monday, January 30th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, January 27th. This represents a $1.32 annualized dividend and a yield of 3.27%. Conagra Brands’s dividend payout ratio is currently 93.62%.
Insider Buying and Selling at Conagra Brands
In other Conagra Brands news, EVP Carey Bartell sold 6,408 shares of the firm’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $34.50, for a total value of $221,076.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.98% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. BNP Paribas assumed coverage on Conagra Brands in a research report on Tuesday, November 15th. They issued an “outperform” rating and a $42.00 target price for the company. Stifel Nicolaus increased their target price on Conagra Brands from $35.00 to $44.00 in a research report on Friday. Exane BNP Paribas assumed coverage on Conagra Brands in a research report on Tuesday, November 15th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft downgraded Conagra Brands from a “hold” rating to a “sell” rating and increased their target price for the company from $33.00 to $34.00 in a research report on Tuesday, December 6th. Finally, Morgan Stanley increased their target price on Conagra Brands from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.45.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.
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