Pensionfund Sabic Sells 5,500 Shares of Conagra Brands $CAG

Pensionfund Sabic decreased its holdings in shares of Conagra Brands (NYSE:CAG) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,000 shares of the company’s stock after selling 5,500 shares during the quarter. Pensionfund Sabic’s holdings in Conagra Brands were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CAG. Ameriprise Financial Inc. raised its holdings in Conagra Brands by 233.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock valued at $159,625,000 after acquiring an additional 4,191,555 shares during the period. Dimensional Fund Advisors LP raised its holdings in Conagra Brands by 49.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock valued at $217,686,000 after acquiring an additional 2,702,407 shares during the period. Two Sigma Advisers LP raised its holdings in Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company’s stock valued at $225,746,000 after acquiring an additional 2,058,000 shares during the period. KBC Group NV raised its holdings in Conagra Brands by 560.1% during the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company’s stock valued at $54,480,000 after acquiring an additional 1,733,297 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Conagra Brands by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock valued at $1,610,971,000 after acquiring an additional 1,604,893 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 1.3%

CAG opened at $19.18 on Friday. The stock has a market cap of $9.18 billion, a PE ratio of 8.03, a P/E/G ratio of 1.86 and a beta of 0.07. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.04. The business’s fifty day simple moving average is $19.23 and its 200 day simple moving average is $22.34.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.3%. The ex-dividend date was Wednesday, July 30th. Conagra Brands’s dividend payout ratio is presently 58.58%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAG. Royal Bank Of Canada lowered their target price on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Friday, July 11th. Sanford C. Bernstein set a $21.00 price target on shares of Conagra Brands and gave the stock a “market perform” rating in a report on Friday, July 11th. Evercore ISI decreased their price target on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating on the stock in a report on Friday, July 11th. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, July 11th. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $26.00 to $21.00 in a report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.17.

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.