BNP Paribas Financial Markets Increases Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

BNP Paribas Financial Markets boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 113.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 959,968 shares of the company’s stock after purchasing an additional 510,789 shares during the period. BNP Paribas Financial Markets owned approximately 0.20% of Conagra Brands worth $31,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Conagra Brands in the third quarter valued at approximately $123,000. FMR LLC raised its position in Conagra Brands by 4.8% in the third quarter. FMR LLC now owns 1,478,380 shares of the company’s stock valued at $48,077,000 after purchasing an additional 67,079 shares during the period. Qsemble Capital Management LP lifted its stake in shares of Conagra Brands by 76.3% in the 3rd quarter. Qsemble Capital Management LP now owns 93,064 shares of the company’s stock valued at $3,026,000 after purchasing an additional 40,284 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Conagra Brands by 27,057.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,901 shares of the company’s stock worth $62,000 after purchasing an additional 1,894 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Conagra Brands by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 58,495 shares of the company’s stock worth $1,902,000 after purchasing an additional 6,173 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of CAG opened at $27.55 on Friday. The stock has a market capitalization of $13.15 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.83 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The company’s fifty day moving average is $29.26 and its two-hundred day moving average is $29.82.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.08%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Bank of America reduced their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.63.

Conagra Brands 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.