Swedbank AB Has $1.27 Million Holdings in Conagra Brands $CAG

Swedbank AB decreased its holdings in Conagra Brands (NYSE:CAG) by 63.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,300 shares of the company’s stock after selling 128,168 shares during the period. Swedbank AB’s holdings in Conagra Brands were worth $1,269,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Conagra Brands by 2.3% in the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock valued at $536,363,000 after purchasing an additional 588,435 shares during the period. Invesco Ltd. increased its holdings in shares of Conagra Brands by 25.6% in the 3rd quarter. Invesco Ltd. now owns 15,587,877 shares of the company’s stock valued at $285,414,000 after purchasing an additional 3,173,767 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Conagra Brands by 21.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,674,084 shares of the company’s stock valued at $268,672,000 after purchasing an additional 2,618,647 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Conagra Brands by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,130,671 shares of the company’s stock valued at $222,113,000 after purchasing an additional 1,984,873 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of Conagra Brands by 239.6% in the 3rd quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after purchasing an additional 5,889,542 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insider Activity at Conagra Brands

In related news, Director Richard H. Lenny purchased 25,000 shares of the stock in a transaction on Tuesday, April 14th. The shares were bought at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the acquisition, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Mulligan purchased 17,500 shares of the stock in a transaction on Tuesday, April 14th. The shares were bought at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the acquisition, the director owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. The trade was a 542.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Conagra Brands Trading Up 1.3%

Shares of CAG stock opened at $13.32 on Thursday. Conagra Brands has a 12 month low of $13.14 and a 12 month high of $23.09. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $14.63 and its two-hundred day moving average is $16.69. The company has a market cap of $6.37 billion and a PE ratio of -133.14.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the business earned $0.51 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities analysts predict that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 10.5%. The ex-dividend date is Thursday, April 30th. Conagra Brands’s dividend payout ratio (DPR) is -1,400.00%.

Analysts Set New Price Targets

CAG has been the topic of a number of research reports. Evercore dropped their target price on Conagra Brands from $19.00 to $18.00 in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Barclays dropped their target price on Conagra Brands from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Royal Bank Of Canada dropped their price objective on Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Finally, Jefferies Financial Group dropped their price objective on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $15.47.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.