National Pension Service Has $16.72 Million Stock Position in Conagra Brands Inc (NYSE:CAG)

National Pension Service lifted its position in Conagra Brands Inc (NYSE:CAG) by 5.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 544,923 shares of the company’s stock after buying an additional 28,132 shares during the period. National Pension Service’s holdings in Conagra Brands were worth $16,718,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund increased its position in shares of Conagra Brands by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 51,657 shares of the company’s stock worth $1,370,000 after acquiring an additional 737 shares in the last quarter. Manning & Napier Group LLC boosted its stake in Conagra Brands by 38.5% in the 2nd quarter. Manning & Napier Group LLC now owns 138,693 shares of the company’s stock worth $3,677,000 after purchasing an additional 38,564 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in Conagra Brands by 14.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 15,458 shares of the company’s stock worth $410,000 after purchasing an additional 2,007 shares during the period. Arizona State Retirement System increased its holdings in Conagra Brands by 8.8% during the 2nd quarter. Arizona State Retirement System now owns 250,250 shares of the company’s stock worth $6,637,000 after purchasing an additional 20,259 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in Conagra Brands by 200.8% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 247,757 shares of the company’s stock worth $6,571,000 after purchasing an additional 165,400 shares in the last quarter. 87.70% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on CAG shares. Berenberg Bank assumed coverage on Conagra Brands in a research note on Thursday, November 14th. They issued a “hold” rating and a $29.00 price target on the stock. ValuEngine raised Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays set a $33.00 price objective on Conagra Brands and gave the stock a “buy” rating in a report on Friday, September 27th. Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $31.00 in a research report on Friday, September 6th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, September 19th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.00.

Shares of NYSE:CAG opened at $28.76 on Tuesday. The company’s 50-day moving average price is $27.99 and its two-hundred day moving average price is $28.53. Conagra Brands Inc has a one year low of $20.22 and a one year high of $32.80. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.11 and a quick ratio of 0.40. The stock has a market capitalization of $14.05 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85.

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Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.04. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Conagra Brands had a return on equity of 12.34% and a net margin of 6.68%. Conagra Brands’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. On average, analysts anticipate that Conagra Brands Inc will post 2.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 1st will be given a dividend of $0.2125 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.85 annualized dividend and a yield of 2.96%. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.

In related news, EVP Colleen Batcheler sold 25,458 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.00, for a total value of $763,740.00. Following the completion of the transaction, the executive vice president now directly owns 169,873 shares of the company’s stock, valued at $5,096,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas M. Mcgough sold 26,099 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $31.00, for a total transaction of $809,069.00. Following the transaction, the chief operating officer now owns 145,869 shares in the company, valued at $4,521,939. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a 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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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