Manning & Napier Advisors LLC decreased its holdings in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 40.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 73,908 shares of the company’s stock after selling 49,727 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Conagra Brands were worth $2,051,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Swedbank AB boosted its stake in shares of Conagra Brands by 23.6% in the fourth quarter. Swedbank AB now owns 833,542 shares of the company’s stock worth $23,131,000 after acquiring an additional 159,077 shares during the period. Forsta AP Fonden boosted its stake in shares of Conagra Brands by 8.9% in the fourth quarter. Forsta AP Fonden now owns 123,600 shares of the company’s stock worth $3,430,000 after acquiring an additional 10,100 shares during the period. SteelPeak Wealth LLC bought a new position in shares of Conagra Brands in the fourth quarter worth about $238,000. Stonegate Investment Group LLC boosted its stake in shares of Conagra Brands by 24.6% in the fourth quarter. Stonegate Investment Group LLC now owns 31,262 shares of the company’s stock worth $868,000 after acquiring an additional 6,165 shares during the period. Finally, Jeppson Wealth Management LLC boosted its stake in shares of Conagra Brands by 61.1% in the fourth quarter. Jeppson Wealth Management LLC now owns 19,866 shares of the company’s stock worth $551,000 after acquiring an additional 7,531 shares during the period. Institutional investors own 83.75% of the company’s stock.
Conagra Brands Trading Up 1.5 %
Shares of CAG stock opened at $26.30 on Friday. Conagra Brands, Inc. has a 1 year low of $25.06 and a 1 year high of $33.24. 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 stock’s 50 day simple moving average is $27.00 and its two-hundred day simple moving average is $29.08. The company has a market cap of $12.55 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.72 and a beta of 0.29.
Conagra Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.32%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.
Analysts Set New Price Targets
CAG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Citigroup dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus dropped their price target on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average price target of $30.33.
View Our Latest Research Report on Conagra Brands
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.
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