Dai ichi Life Insurance Company Ltd Has $401,000 Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Dai ichi Life Insurance Company Ltd trimmed its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 43.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,991 shares of the company’s stock after selling 10,721 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Conagra Brands were worth $401,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in Conagra Brands by 18.2% during the fourth quarter. Assetmark Inc. now owns 19,088 shares of the company’s stock valued at $547,000 after purchasing an additional 2,945 shares during the period. D.A. Davidson & CO. raised its stake in Conagra Brands by 15.9% during the 4th quarter. D.A. Davidson & CO. now owns 218,501 shares of the company’s stock worth $6,262,000 after buying an additional 30,023 shares during the period. Balentine LLC bought a new position in Conagra Brands during the fourth quarter worth about $278,000. PNC Financial Services Group Inc. grew its stake in Conagra Brands by 0.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 215,361 shares of the company’s stock valued at $6,172,000 after acquiring an additional 1,306 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Conagra Brands by 74.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,790 shares of the company’s stock worth $625,000 after purchasing an additional 9,322 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CAG shares. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Barclays upped their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Finally, Citigroup boosted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.14.

Conagra Brands Stock Performance

Shares of CAG traded down $0.16 during midday trading on Friday, reaching $30.28. 2,423,694 shares of the stock were exchanged, compared to its average volume of 3,635,079. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $35.60. The company has a market cap of $14.48 billion, a P/E ratio of 15.22, a PEG ratio of 3.06 and a beta of 0.38. The stock’s 50 day simple moving average is $30.30 and its 200 day simple moving average is $29.14. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 earnings per share. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio is presently 70.35%.

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.