Conagra Brands, Inc. (NYSE:CAG) Stake Raised by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise raised its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 74.7% in the second quarter, Holdings Channel reports. The firm owned 27,830 shares of the company’s stock after buying an additional 11,900 shares during the period. Banque Cantonale Vaudoise’s holdings in Conagra Brands were worth $938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Institutional & Family Asset Management LLC purchased a new stake in shares of Conagra Brands during the 1st quarter worth about $26,000. Tradition Wealth Management LLC raised its stake in shares of Conagra Brands by 641.6% during the 1st quarter. Tradition Wealth Management LLC now owns 927 shares of the company’s stock worth $35,000 after purchasing an additional 802 shares in the last quarter. Glassman Wealth Services raised its stake in shares of Conagra Brands by 70.3% during the 2nd quarter. Glassman Wealth Services now owns 1,042 shares of the company’s stock worth $35,000 after purchasing an additional 430 shares in the last quarter. Clear Street Markets LLC raised its stake in shares of Conagra Brands by 93.2% during the 1st quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock worth $35,000 after purchasing an additional 451 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of Conagra Brands during the 4th quarter worth about $39,000. 84.27% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

CAG opened at $28.15 on Thursday. The firm has a market capitalization of $13.45 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 2.68 and a beta of 0.61. The stock’s 50 day moving average price is $27.73 and its two-hundred day moving average price is $31.46. 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 (NYSE:CAG) last released its earnings results on Thursday, October 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. Conagra Brands had a return on equity of 15.49% and a net margin of 8.80%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.68 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 2nd will be given a $0.35 dividend. The ex-dividend date is Wednesday, November 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.97%. Conagra Brands’s dividend payout ratio is currently 62.22%.

Insiders Place Their Bets

In other news, Director Richard H. Lenny acquired 9,238 shares of Conagra Brands stock in a transaction on Monday, October 9th. The stock was bought at an average price of $27.31 per share, for a total transaction of $252,289.78. Following the transaction, the director now owns 165,205 shares of the company’s stock, valued at $4,511,748.55. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CAG shares. The Goldman Sachs Group cut their price target on Conagra Brands from $37.00 to $33.00 in a research note on Thursday, October 5th. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, August 21st. Barclays lowered their price objective on Conagra Brands from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. Royal Bank of Canada lowered their price objective on Conagra Brands from $36.00 to $32.00 and set a “sector perform” rating on the stock in a report on Friday, October 6th. Finally, TD Cowen assumed coverage on Conagra Brands in a report on Wednesday, September 13th. They set a “market perform” rating and a $32.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.15.

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.