Public Employees Retirement System of Ohio Increases Stock Position in Conagra Brands Inc (NYSE:CAG)
Public Employees Retirement System of Ohio increased its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 169,430 shares of the company’s stock after buying an additional 2,967 shares during the period. Public Employees Retirement System of Ohio’s holdings in Conagra Brands were worth $5,198,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAG. Private Capital Group LLC lifted its holdings in shares of Conagra Brands by 16.2% during the 2nd quarter. Private Capital Group LLC now owns 2,520 shares of the company’s stock valued at $90,000 after purchasing an additional 351 shares during the last quarter. Securian Asset Management Inc grew its position in Conagra Brands by 0.7% during the 2nd quarter. Securian Asset Management Inc now owns 50,008 shares of the company’s stock worth $1,326,000 after purchasing an additional 361 shares during the last quarter. Stephens Inc. AR increased its stake in Conagra Brands by 1.7% during the 3rd quarter. Stephens Inc. AR now owns 23,188 shares of the company’s stock valued at $711,000 after purchasing an additional 390 shares in the last quarter. Hartford Investment Management Co. increased its stake in Conagra Brands by 0.3% during the 2nd quarter. Hartford Investment Management Co. now owns 133,048 shares of the company’s stock valued at $3,528,000 after purchasing an additional 401 shares in the last quarter. Finally, Berman Capital Advisors LLC raised its holdings in shares of Conagra Brands by 86.2% in the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock worth $25,000 after buying an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 87.70% of the company’s stock.
Several equities analysts recently issued reports on the company. Citigroup upped their target price on Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $31.00 in a research note on Friday, September 6th. Credit Suisse Group reissued a “hold” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, September 19th. Royal Bank of Canada initiated coverage on Conagra Brands in a research note on Thursday, October 17th. They issued a “sector perform” rating and a $30.00 price objective for the company. Finally, Berenberg Bank began coverage on Conagra Brands in a research report on Thursday, November 14th. They issued a “hold” rating and a $29.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Conagra Brands presently has a consensus rating of “Buy” and an average target price of $33.00.
Shares of NYSE CAG opened at $28.60 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.11 and a quick ratio of 0.40. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.95 and a beta of 0.85. The firm’s 50 day simple moving average is $28.00 and its 200-day simple moving average is $28.53. Conagra Brands Inc has a 12 month low of $20.22 and a 12 month high of $32.80.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.04. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.48 billion. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Analysts anticipate that Conagra Brands Inc will post 2.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st were paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Thursday, October 31st. Conagra Brands’s payout ratio is currently 42.29%.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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