Sompo Asset Management Co. Ltd. Takes $204,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Sompo Asset Management Co. Ltd. purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) during the third quarter, Holdings Channel reports. The fund purchased 6,270 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares during the period. Marshall Wace LLP increased its stake in Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares during the period. Federated Hermes Inc. increased its stake in Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares during the period. Squarepoint Ops LLC increased its stake in Conagra Brands by 148.2% during the 2nd 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 period. Finally, Assenagon Asset Management S.A. increased its stake in Conagra Brands by 2,552.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after buying an additional 1,241,121 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 0.9 %

Shares of CAG stock opened at $27.42 on Monday. The firm has a market cap of $13.09 billion, a P/E ratio of 26.62, a PEG ratio of 2.82 and a beta of 0.34. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The firm’s 50-day simple moving average is $29.67 and its 200-day simple moving average is $29.90.

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

Conagra Brands Dividend Announcement

The firm also recently declared 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 is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.11%. Conagra Brands’s payout ratio is 135.92%.

Wall Street Analysts Forecast Growth

CAG has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Six equities 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 stock. Based on data from MarketBeat, Conagra Brands has an average rating of “Hold” and an average target price of $31.63.

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.