CIBC Asset Management Inc Acquires 501 Shares of Conagra Brands, Inc. (NYSE:CAG)

CIBC Asset Management Inc grew its holdings in Conagra Brands, Inc. (NYSE:CAG) by 0.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,534 shares of the company’s stock after buying an additional 501 shares during the period. CIBC Asset Management Inc’s holdings in Conagra Brands were worth $2,346,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Creative Planning increased its stake in Conagra Brands by 6.1% during the third quarter. Creative Planning now owns 165,064 shares of the company’s stock worth $5,368,000 after acquiring an additional 9,490 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Conagra Brands by 266.5% in the 3rd quarter. Blue Trust Inc. now owns 7,824 shares of the company’s stock worth $254,000 after purchasing an additional 5,689 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Conagra Brands by 46.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,979 shares of the company’s stock valued at $585,000 after purchasing an additional 5,693 shares during the last quarter. Signaturefd LLC raised its holdings in Conagra Brands by 4.2% during the 3rd quarter. Signaturefd LLC now owns 25,142 shares of the company’s stock valued at $818,000 after buying an additional 1,008 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in Conagra Brands in the third quarter worth $816,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.82 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market capitalization of $12.32 billion, a PE ratio of 25.31, a P/E/G ratio of 1.72 and a beta of 0.28. The company has a 50 day moving average price of $26.15 and a 200-day moving average price of $28.54. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company posted $0.71 EPS. Conagra Brands’s revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is 137.26%.

Analysts Set New Price Targets

CAG has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday. Bank of America reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Barclays dropped their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven investment 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’s stock. According to data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $29.78.

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.