Conagra Brands, Inc. (NYSE:CAG) Shares Bought 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% during the fourth quarter, Holdings Channel.com reports. The firm owned 78,414 shares of the company’s stock after purchasing an additional 22,790 shares during the quarter. State of Alaska Department of Revenue’s holdings in Conagra Brands were worth $2,175,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Courier Capital LLC raised its position in shares of Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after acquiring an additional 355 shares in the last quarter. CWM LLC raised its position in shares of Conagra Brands by 0.4% during the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after acquiring an additional 359 shares in the last quarter. Empirical Finance LLC raised its position in shares of Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after acquiring an additional 362 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after acquiring an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. raised its position in shares of Conagra Brands by 1.5% during the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after acquiring an additional 376 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Citigroup cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Stifel Nicolaus cut their price target on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Seven 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Stock Down 1.3 %

Conagra Brands stock opened at $24.51 on Tuesday. 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, Inc. has a 1-year low of $24.35 and a 1-year high of $33.24. The company has a market cap of $11.70 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.70 and a beta of 0.28. The stock’s 50 day moving average price is $26.66 and its 200 day moving average price is $28.85.

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

Conagra Brands Dividend Announcement

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

Conagra Brands 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.