Sasco Capital Inc. CT Has $21.45 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Sasco Capital Inc. CT decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 15.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 659,500 shares of the company’s stock after selling 117,350 shares during the quarter. Conagra Brands comprises about 3.2% of Sasco Capital Inc. CT’s portfolio, making the stock its 13th biggest holding. Sasco Capital Inc. CT owned about 0.14% of Conagra Brands worth $21,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP grew its position in shares of Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after acquiring an additional 2,242,186 shares during the period. Federated Hermes Inc. grew its holdings in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the period. Squarepoint Ops LLC increased its position in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Conagra Brands by 2,552.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after buying an additional 1,241,121 shares during the period. Finally, Miller Howard Investments Inc. NY lifted its holdings in Conagra Brands by 523.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after purchasing an additional 1,214,859 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CAG shares. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group began coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Six 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. According to MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Down 0.3 %

Shares of NYSE:CAG opened at $26.61 on Tuesday. The business’s 50-day moving average is $30.07 and its 200-day moving average is $30.00. The company has a market capitalization of $12.70 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.75 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.26%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Conagra Brands 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.