Erste Asset Management GmbH Invests $452,000 in Conagra Brands, Inc. (NYSE:CAG)

Erste Asset Management GmbH bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,900 shares of the company’s stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its position in Conagra Brands by 13.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 297,533 shares of the company’s stock worth $9,675,000 after purchasing an additional 35,319 shares in the last quarter. Vinva Investment Management Ltd bought a new stake in Conagra Brands in the 3rd quarter worth about $325,000. Public Sector Pension Investment Board grew its position in Conagra Brands by 16.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 21,000 shares of the company’s stock worth $683,000 after purchasing an additional 3,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Conagra Brands by 10.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 290,533 shares of the company’s stock worth $9,448,000 after purchasing an additional 28,664 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Conagra Brands by 235,250.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,707 shares of the company’s stock worth $153,000 after purchasing an additional 4,705 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of CAG stock opened at $27.33 on Thursday. The stock has a market capitalization of $13.04 billion, a P/E ratio of 26.53, a PEG ratio of 2.86 and a beta of 0.31. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $28.99 and its 200 day moving average is $29.74. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24.

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). 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 for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.12%. The ex-dividend date was Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CAG shares. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.