Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in Conagra Brands, Inc. (NYSE:CAG) by 41.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,414 shares of the company’s stock after buying an additional 22,790 shares during the quarter. State of Alaska Department of Revenue’s holdings in Conagra Brands were worth $2,175,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its holdings in Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after buying an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after buying an additional 19,329 shares in the last quarter. Nordea Investment Management AB grew its holdings in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after buying an additional 618,096 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Conagra Brands in the 3rd quarter valued at $1,020,000. Finally, Pacer Advisors Inc. grew its holdings in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $24.51 on Tuesday. The business has a 50-day moving average of $26.66 and a 200 day moving average of $28.85. Conagra Brands, Inc. has a 12 month low of $24.35 and a 12 month high of $33.24. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.70 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. As a group, sell-side analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.26%.

Analyst Ratings Changes

Several brokerages have issued reports on CAG. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Stifel Nicolaus lowered their price target on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, January 24th. Wells Fargo & Company lowered their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Barclays lowered their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Seven 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.33.

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.