Swedbank AB Lowers Stock Holdings in Conagra Brands $CAG

Swedbank AB reduced its position in Conagra Brands (NYSE:CAG) by 63.6% in the 4th quarter, Holdings Channel reports. The fund owned 73,300 shares of the company’s stock after selling 128,168 shares during the period. Swedbank AB’s holdings in Conagra Brands were worth $1,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAG. CYBER HORNET ETFs LLC purchased a new stake in shares of Conagra Brands during the 2nd quarter valued at $26,000. MUFG Securities EMEA plc purchased a new stake in shares of Conagra Brands during the 2nd quarter valued at $29,000. Spire Wealth Management grew its stake in shares of Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after buying an additional 1,230 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Conagra Brands during the 3rd quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Conagra Brands by 100.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock valued at $35,000 after buying an additional 1,000 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John J. Mulligan bought 17,500 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was purchased at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the transaction, the director owned 20,728 shares in the company, valued at approximately $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard H. Lenny bought 25,000 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was purchased at an average price of $14.34 per share, with a total value of $358,500.00. Following the transaction, the director owned 229,340 shares in the company, valued at $3,288,735.60. The trade was a 12.23% increase in their position. The SEC filing for this purchase provides additional information. 0.57% of the stock is owned by corporate insiders.

Conagra Brands Price Performance

CAG opened at $14.13 on Monday. The firm has a market cap of $6.76 billion and a price-to-earnings ratio of -141.25. Conagra Brands has a fifty-two week low of $13.60 and a fifty-two week high of $23.47. The company’s 50-day moving average price is $15.87 and its 200 day moving average price is $17.10. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.Conagra Brands’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. As a group, sell-side analysts expect that Conagra Brands will post 1.7 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a yield of 9.9%. Conagra Brands’s dividend payout ratio is -1,400.00%.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Conagra Brands in a research note on Friday, May 1st. Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Barclays lowered their price objective on shares of Conagra Brands from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Sanford C. Bernstein lowered their price objective on shares of Conagra Brands from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, April 2nd. Finally, Morgan Stanley lowered their price objective on shares of Conagra Brands from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.80.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.