Maryland State Retirement & Pension System raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,699 shares of the company’s stock after purchasing an additional 1,727 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Conagra Brands were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC raised its holdings in Conagra Brands by 37.5% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,100 shares of the company’s stock valued at $40,000 after acquiring an additional 300 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Conagra Brands by 4.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 128,348 shares of the company’s stock valued at $4,669,000 after acquiring an additional 6,051 shares during the last quarter. Advisors Management Group Inc. ADV raised its holdings in Conagra Brands by 5.8% in the 3rd quarter. Advisors Management Group Inc. ADV now owns 9,717 shares of the company’s stock valued at $329,000 after acquiring an additional 534 shares during the last quarter. Mount Lucas Management LP raised its holdings in Conagra Brands by 16.6% in the 2nd quarter. Mount Lucas Management LP now owns 103,907 shares of the company’s stock valued at $3,780,000 after acquiring an additional 14,804 shares during the last quarter. Finally, Meyer Handelman Co. raised its holdings in Conagra Brands by 0.6% in the 2nd quarter. Meyer Handelman Co. now owns 639,531 shares of the company’s stock valued at $23,266,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.
Shares of Conagra Brands stock opened at $33.83 on Wednesday. The company has a fifty day moving average price of $32.41 and a 200 day moving average price of $33.71. The company has a current ratio of 0.96, a quick ratio of 0.33 and a debt-to-equity ratio of 1.02. Conagra Brands, Inc. has a twelve month low of $30.44 and a twelve month high of $39.09. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.00 and a beta of 0.83.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, October 6th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Conagra Brands had a net margin of 10.80% and a return on equity of 13.92%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. Analysts forecast that Conagra Brands, Inc. will post 2.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 2nd. Investors of record on Monday, January 31st will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, January 28th. This represents a $1.25 dividend on an annualized basis and a yield of 3.69%. Conagra Brands’s dividend payout ratio (DPR) is 50.40%.
Several research analysts have weighed in on CAG shares. Royal Bank of Canada reiterated a “hold” rating and issued a $38.00 price target on shares of Conagra Brands in a report on Friday, October 8th. Jefferies Financial Group reissued a “buy” rating on shares of Conagra Brands in a research note on Monday, September 13th. Credit Suisse Group raised shares of Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 price objective for the company in a research note on Wednesday, September 29th. UBS Group cut shares of Conagra Brands from a “buy” rating to a “sell” rating in a research note on Friday, October 8th. Finally, JPMorgan Chase & Co. cut shares of Conagra Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $41.00 to $38.00 in a research note on Friday, October 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.00.
Conagra Brands Company Profile
Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.
Recommended Story: Margin
Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAG).
Want More Great Investing Ideas?