Handelsbanken Fonder AB Sells 2,491 Shares of Conagra Brands, Inc. (NYSE:CAG)

Handelsbanken Fonder AB reduced its stake in Conagra Brands, Inc. (NYSE:CAG) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,275 shares of the company’s stock after selling 2,491 shares during the period. Handelsbanken Fonder AB’s holdings in Conagra Brands were worth $4,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CAG. Federated Hermes Inc. lifted its position in shares of Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after acquiring an additional 1,871,238 shares during the period. Dimensional Fund Advisors LP lifted its position in Conagra Brands by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after purchasing an additional 633,794 shares during the period. Squarepoint Ops LLC grew its stake in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares in the last quarter. Marshall Wace LLP increased its holdings in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after buying an additional 2,242,186 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Conagra Brands by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock valued at $65,209,000 after buying an additional 78,487 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Barclays lowered their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group assumed coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Wells Fargo & Company lowered their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.33.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $29.20 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. Conagra Brands, Inc. has a 52 week low of $26.42 and a 52 week high of $33.24. The firm has a market cap of $13.96 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32. The firm’s fifty day moving average is $31.23 and its 200-day moving average is $30.29.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. Sell-side analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.79%. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

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.