DNB Asset Management AS Has $2.65 Million Position in Conagra Brands, Inc. (NYSE:CAG)

DNB Asset Management AS boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.4% in the second quarter, Holdings Channel.com reports. The fund owned 93,286 shares of the company’s stock after buying an additional 3,948 shares during the quarter. DNB Asset Management AS’s holdings in Conagra Brands were worth $2,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its stake in shares of Conagra Brands by 79.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,479 shares of the company’s stock valued at $127,000 after acquiring an additional 1,977 shares during the last quarter. GAMMA Investing LLC raised its holdings in Conagra Brands by 74.7% in the second quarter. GAMMA Investing LLC now owns 23,621 shares of the company’s stock worth $671,000 after purchasing an additional 10,102 shares during the period. Red Spruce Capital LLC boosted its position in shares of Conagra Brands by 9.0% during the second quarter. Red Spruce Capital LLC now owns 47,913 shares of the company’s stock worth $1,362,000 after purchasing an additional 3,960 shares in the last quarter. Old Port Advisors grew its holdings in shares of Conagra Brands by 7.1% in the 1st quarter. Old Port Advisors now owns 87,680 shares of the company’s stock valued at $2,599,000 after buying an additional 5,778 shares during the period. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Conagra Brands by 11,463.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,122 shares of the company’s stock valued at $93,000 after buying an additional 3,095 shares during the period. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of several recent analyst reports. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Evercore ISI cut their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company lowered their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada cut their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Citigroup lowered their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.18.

Conagra Brands Stock Down 0.4 %

Conagra Brands stock traded down $0.11 during mid-day trading on Tuesday, reaching $29.90. The company’s stock had a trading volume of 3,181,335 shares, compared to its average volume of 4,654,467. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $32.51. The business’s 50 day simple moving average is $29.19 and its 200 day simple moving average is $29.33. The company has a market capitalization of $14.29 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Insider Transactions at Conagra Brands

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

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.