Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by ING Groep NV

ING Groep NV boosted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,296 shares of the company’s stock after purchasing an additional 5,443 shares during the quarter. ING Groep NV’s holdings in Conagra Brands were worth $1,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Conagra Brands by 14.0% during the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after acquiring an additional 1,737,380 shares during the period. Invesco Ltd. grew its position in Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after acquiring an additional 2,619,372 shares during the period. 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 acquiring an additional 1,330,249 shares during the period. Northern Trust Corp grew its position in Conagra Brands by 3.8% during the third quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock valued at $164,585,000 after acquiring an additional 220,024 shares during the period. Finally, Barclays PLC grew its position in Conagra Brands by 75.7% during the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after acquiring an additional 1,614,986 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.2 %

Shares of NYSE CAG opened at $30.79 on Wednesday. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $35.90. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $30.16 and its 200 day simple moving average is $29.10.

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 the consensus estimate of $0.64 by $0.05. The business 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%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. Equities research analysts expect 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. Investors of record on Tuesday, April 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CAG shares. Citigroup upped their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Barclays upped their target price on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus upped their target price on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and a consensus target price 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.