abrdn plc Buys 30,915 Shares of Conagra Brands, Inc. (NYSE:CAG)

abrdn plc increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,059 shares of the company’s stock after buying an additional 30,915 shares during the quarter. abrdn plc’s holdings in Conagra Brands were worth $6,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kornitzer Capital Management Inc. KS increased its holdings in Conagra Brands by 2.7% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 734,629 shares of the company’s stock valued at $21,054,000 after purchasing an additional 19,609 shares in the last quarter. Kraft Davis & Associates LLC acquired a new stake in Conagra Brands during the 4th quarter valued at $235,000. Naples Money Management LLC acquired a new stake in Conagra Brands during the 4th quarter valued at $26,000. Federated Hermes Inc. increased its holdings in Conagra Brands by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after purchasing an additional 1,330,249 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Conagra Brands by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 42,016 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,528 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.6 %

NYSE:CAG opened at $31.08 on Friday. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $38.73. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $14.86 billion, a P/E ratio of 15.62, a P/E/G ratio of 3.14 and a beta of 0.42. The stock’s fifty day simple moving average is $29.23 and its 200-day simple moving average is $28.68.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.50%. Conagra Brands’s dividend payout ratio is presently 70.35%.

Analyst Ratings Changes

A number of research firms recently weighed in on CAG. Barclays raised their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company lifted their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Citigroup lifted their target price on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada lowered their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Finally, Stifel Nicolaus lifted their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $33.14.

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.