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Federated Hermes Inc. lifted its stake in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 36.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,435 shares of the company’s stock after buying an additional 17,827 shares during the period. Federated Hermes Inc.’s holdings in Conagra Brands were worth $1,844,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands in the 4th quarter worth approximately $28,000. Riverview Trust Co bought a new position in Conagra Brands in the fourth quarter worth $29,000. Grove Bank & Trust boosted its stake in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Conagra Brands in the 4th quarter valued at $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Conagra Brands in the 4th quarter valued at $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CAG has been the topic of a number of analyst reports. Morgan Stanley started coverage on shares of Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. Barclays increased their target price on Conagra Brands from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Finally, Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $27.90.
View Our Latest Stock Analysis on Conagra Brands
Conagra Brands Stock Up 1.9 %
Shares of NYSE:CAG opened at $25.97 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $12.40 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The company’s 50-day moving average price is $25.71 and its two-hundred day moving average price is $27.10.
Conagra Brands (NYSE:CAG – Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $0.69 earnings per share. Conagra Brands’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.
Conagra Brands Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.39%. The ex-dividend date is Monday, April 28th. Conagra Brands’s dividend payout ratio is 205.88%.
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.
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