BlackRock Inc. Acquires 1,312,140 Shares of Conagra Brands, Inc. (NYSE:CAG)

BlackRock Inc. grew its position in Conagra Brands, Inc. (NYSE:CAG) by 3.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 38,774,314 shares of the company’s stock after acquiring an additional 1,312,140 shares during the period. BlackRock Inc. owned 8.08% of Conagra Brands worth $1,313,285,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAG. AGF Investments LLC bought a new position in shares of Conagra Brands in the 2nd quarter valued at $34,000. Strategic Blueprint LLC bought a new position in shares of Conagra Brands in the 2nd quarter valued at $37,000. Ellevest Inc. lifted its stake in shares of Conagra Brands by 161.2% in the 3rd quarter. Ellevest Inc. now owns 1,097 shares of the company’s stock valued at $37,000 after acquiring an additional 677 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in shares of 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. Finally, CVA Family Office LLC lifted its stake in shares of Conagra Brands by 177.3% in the 3rd quarter. CVA Family Office LLC now owns 1,345 shares of the company’s stock valued at $48,000 after acquiring an additional 860 shares during the last quarter. Institutional investors own 84.14% of the company’s stock.

A number of research firms recently weighed in on CAG. JPMorgan Chase & Co. downgraded Conagra Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $41.00 to $38.00 in a report on Friday, October 8th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft reduced their target price on Conagra Brands from $36.00 to $35.00 in a research note on Friday, January 7th. Morgan Stanley raised their target price on Conagra Brands from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 7th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $38.00 price target on shares of Conagra Brands in a research report on Friday, October 8th. Finally, Credit Suisse Group raised shares of Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 price target on the stock in a research report on Wednesday, September 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $36.78.

Shares of NYSE CAG opened at $35.11 on Friday. The stock has a market capitalization of $16.84 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.93 and a quick ratio of 0.36. Conagra Brands, Inc. has a 1 year low of $30.44 and a 1 year high of $39.09. The company’s 50-day moving average is $32.75 and its 200 day moving average is $33.41.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, January 6th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.04). The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.02 billion. Conagra Brands had a return on equity of 12.75% and a net margin of 9.82%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 EPS. Research analysts anticipate that Conagra Brands, Inc. will post 2.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 2nd. Investors of record on Monday, January 31st will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, January 28th. This represents a $1.25 annualized dividend and a yield of 3.56%. Conagra Brands’s payout ratio is 54.82%.

Conagra Brands 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.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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