Swiss National Bank Sells 39,800 Shares of Conagra Brands, Inc. (NYSE:CAG)

Swiss National Bank lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,494,612 shares of the company’s stock after selling 39,800 shares during the period. Swiss National Bank owned about 0.31% of Conagra Brands worth $42,836,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after buying an additional 2,619,372 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after purchasing an additional 1,737,380 shares during the period. Barclays PLC boosted its holdings in shares of Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after buying an additional 1,614,986 shares during the last quarter. Federated Hermes Inc. grew its position in Conagra Brands by 18.7% during the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after buying an additional 1,330,249 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in Conagra Brands by 401.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock worth $41,663,000 after acquiring an additional 1,216,389 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of CAG stock opened at $30.19 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.04. The company has a market capitalization of $14.43 billion, a P/E ratio of 15.17, a PEG ratio of 3.07 and a beta of 0.38. The stock has a 50 day moving average price of $29.54 and a two-hundred day moving average price of $28.83.

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

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.64%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 70.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of 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 price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Finally, Citigroup raised their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.14.

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.