IFM Investors Pty Ltd increased its position in Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,285 shares of the company’s stock after acquiring an additional 9,678 shares during the period. IFM Investors Pty Ltd’s holdings in Conagra Brands were worth $2,460,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. California Public Employees Retirement System grew its holdings in Conagra Brands by 246.5% during the 1st quarter. California Public Employees Retirement System now owns 3,446,394 shares of the company’s stock valued at $115,695,000 after buying an additional 2,451,779 shares during the last quarter. American Century Companies Inc. grew its holdings in Conagra Brands by 11.5% during the 4th quarter. American Century Companies Inc. now owns 14,420,111 shares of the company’s stock valued at $492,447,000 after buying an additional 1,489,272 shares during the last quarter. Invesco Ltd. grew its holdings in Conagra Brands by 14.1% during the 4th quarter. Invesco Ltd. now owns 7,875,077 shares of the company’s stock valued at $268,936,000 after buying an additional 971,962 shares during the last quarter. UMB Bank N A MO acquired a new stake in Conagra Brands during the 4th quarter valued at $32,703,000. Finally, Alps Advisors Inc. acquired a new stake in Conagra Brands during the 4th quarter valued at $24,867,000. Institutional investors and hedge funds own 83.21% of the company’s stock.
Conagra Brands Trading Up 1.3 %
Shares of CAG opened at $34.43 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.31 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $16.53 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.01 and a beta of 0.59. The stock’s fifty day simple moving average is $33.49 and its 200 day simple moving average is $34.06. Conagra Brands, Inc. has a twelve month low of $30.06 and a twelve month high of $36.97.
Conagra Brands Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 3rd will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 2nd. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 3.83%. Conagra Brands’s dividend payout ratio (DPR) is 71.74%.
Insider Buying and Selling at Conagra Brands
In related news, Director Emanuel Chirico acquired 30,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $34.06 per share, with a total value of $1,021,800.00. Following the completion of the transaction, the director now directly owns 40,788 shares of the company’s stock, valued at approximately $1,389,239.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. UBS Group increased their target price on Conagra Brands from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, July 8th. Credit Suisse Group reduced their price target on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, July 15th. Evercore ISI initiated coverage on Conagra Brands in a research note on Friday, April 8th. They set a “buy” rating and a $40.00 price target on the stock. Morgan Stanley reduced their price target on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. Finally, Citigroup reduced their price target on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, July 15th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.67.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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