Handelsbanken Fonder AB Has $5.07 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Handelsbanken Fonder AB lowered its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,157 shares of the company’s stock after selling 18,130 shares during the quarter. Handelsbanken Fonder AB’s holdings in Conagra Brands were worth $5,071,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CAG. Empowered Funds LLC raised its position in shares of Conagra Brands by 328.8% during the fourth quarter. Empowered Funds LLC now owns 34,318 shares of the company’s stock worth $952,000 after purchasing an additional 26,314 shares during the period. Savant Capital LLC raised its position in shares of Conagra Brands by 28.1% during the fourth quarter. Savant Capital LLC now owns 8,337 shares of the company’s stock worth $231,000 after purchasing an additional 1,831 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $44,000. Asset Planning Inc acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $53,000. Finally, New York State Teachers Retirement System raised its position in shares of Conagra Brands by 5.6% during the fourth quarter. New York State Teachers Retirement System now owns 388,055 shares of the company’s stock worth $10,769,000 after purchasing an additional 20,461 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of a number of recent research reports. The Goldman Sachs Group lowered Conagra Brands from a “neutral” rating to a “sell” rating and dropped their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Morgan Stanley initiated coverage on Conagra Brands in a research report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. Bank of America lowered Conagra Brands from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $27.00 to $20.00 in a research report on Thursday. Wells Fargo & Company dropped their target price on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.70.

Conagra Brands Stock Down 3.3%

NYSE:CAG opened at $21.56 on Friday. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.76 and a beta of 0.14. Conagra Brands, Inc. has a twelve month low of $21.51 and a twelve month high of $33.24. The stock’s 50 day moving average price is $23.65 and its two-hundred day moving average price is $25.41. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. Equities research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Monday, April 28th. Conagra Brands’s dividend payout ratio (DPR) is 205.88%.

About Conagra Brands

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.