Handelsbanken Fonder AB Has $5.78 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Handelsbanken Fonder AB grew its holdings in Conagra Brands, Inc. (NYSE:CAG) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 208,287 shares of the company’s stock after purchasing an additional 56,012 shares during the quarter. Handelsbanken Fonder AB’s holdings in Conagra Brands were worth $5,780,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAG. Empirical Finance LLC grew its position in Conagra Brands by 2.3% during the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after buying an additional 362 shares in the last quarter. Arkadios Wealth Advisors grew its position in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after buying an additional 376 shares in the last quarter. Bridgewater Advisors Inc. grew its position in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after buying an additional 376 shares in the last quarter. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Conagra Brands by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after purchasing an additional 501 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CAG. Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Barclays lowered their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, two have given 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 an average price target of $29.78.

Conagra Brands Price Performance

CAG opened at $25.82 on Monday. The company has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $28.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The firm has a market capitalization of $12.32 billion, a PE ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

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.