Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Czech National Bank

Czech National Bank increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,483 shares of the company’s stock after acquiring an additional 5,896 shares during the period. Czech National Bank’s holdings in Conagra Brands were worth $2,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in shares of Conagra Brands in the 2nd quarter worth approximately $511,000. Envestnet Asset Management Inc. grew its position in Conagra Brands by 3.5% in the second quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after buying an additional 78,487 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Conagra Brands by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after buying an additional 633,794 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter valued at $6,831,000. Finally, Edgestream Partners L.P. boosted its stake in shares of Conagra Brands by 308.0% during the 2nd quarter. Edgestream Partners L.P. now owns 54,244 shares of the company’s stock worth $1,542,000 after acquiring an additional 40,949 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of CAG opened at $25.78 on Friday. The business’s 50-day moving average is $27.35 and its 200-day moving average is $29.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 1.76 and a beta of 0.29. Conagra Brands, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.43%. Conagra Brands’s dividend payout ratio is 137.26%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CAG shares. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Barclays decreased their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.56.

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.