Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 21,015.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,654,828 shares of the company’s stock after acquiring an additional 10,604,367 shares during the period. Pacer Advisors Inc. owned about 2.23% of Conagra Brands worth $346,495,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CAG. Marshall Wace LLP grew its holdings in shares of Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after purchasing an additional 1,513,726 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Conagra Brands by 2,552.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after purchasing an additional 1,241,121 shares during the period. Finally, Miller Howard Investments Inc. NY grew its holdings in shares of Conagra Brands by 523.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after purchasing an additional 1,214,859 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of CAG opened at $27.12 on Thursday. 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 has a market cap of $12.94 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. The company’s 50 day simple moving average is $29.86 and its 200-day simple moving average is $29.95. Conagra Brands, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share 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 firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the business earned $0.66 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

Analyst Ratings Changes

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