FUKOKU MUTUAL LIFE INSURANCE Co Acquires 1,794 Shares of Conagra Brands, Inc. (NYSE:CAG)

FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Conagra Brands, Inc. (NYSE:CAG) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,042 shares of the company’s stock after purchasing an additional 1,794 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Conagra Brands were worth $251,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the 4th quarter valued at $28,000. Grove Bank & Trust grew its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Conagra Brands during the 4th quarter valued at $44,000. Asset Planning Inc bought a new stake in shares of Conagra Brands during the 4th quarter valued at $53,000. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after buying an additional 529 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of CAG opened at $25.34 on Thursday. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The company has a 50 day moving average of $26.03 and a two-hundred day moving average of $28.44. 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 company has a market cap of $12.10 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.52%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Finally, Barclays dropped their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.67.

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.