Zurcher Kantonalbank Zurich Cantonalbank Acquires 28,664 Shares of Conagra Brands, Inc. (NYSE:CAG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,533 shares of the company’s stock after purchasing an additional 28,664 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Conagra Brands were worth $9,448,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Aigen Investment Management LP acquired a new stake in Conagra Brands during the 3rd quarter worth approximately $1,020,000. Pacer Advisors Inc. increased its position in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Conagra Brands during the third quarter worth $3,829,000. Ontario Teachers Pension Plan Board bought a new stake in Conagra Brands in the 3rd quarter valued at $967,000. Finally, Swedbank AB boosted its stake in Conagra Brands by 3.1% in the 3rd quarter. Swedbank AB now owns 674,465 shares of the company’s stock worth $21,934,000 after purchasing an additional 20,384 shares during the period. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

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

Conagra Brands Trading Up 0.4 %

NYSE CAG opened at $27.55 on Monday. The company has a market cap of $13.15 billion, a PE ratio of 26.75, a PEG ratio of 2.84 and a beta of 0.34. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24. The stock has a 50 day moving average of $29.17 and a 200-day moving average of $29.78. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last announced its quarterly 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). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

About Conagra Brands

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.