Skandinaviska Enskilda Banken AB publ Sells 124,712 Shares of Conagra Brands (NYSE:CAG)

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Conagra Brands (NYSE:CAG) by 31.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 270,508 shares of the company’s stock after selling 124,712 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Conagra Brands were worth $7,214,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CAG. Ameriprise Financial Inc. boosted its holdings in Conagra Brands by 104.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company’s stock worth $49,776,000 after acquiring an additional 914,820 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Conagra Brands by 11.9% in the first quarter. Victory Capital Management Inc. now owns 842,094 shares of the company’s stock valued at $22,459,000 after purchasing an additional 89,445 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Conagra Brands by 42.1% during the first quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company’s stock valued at $289,000 after purchasing an additional 3,207 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Conagra Brands during the first quarter valued at about $396,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Conagra Brands by 269.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company’s stock worth $5,532,000 after purchasing an additional 151,209 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $19.22 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $21.18 and a two-hundred day simple moving average of $23.86. Conagra Brands has a 1-year low of $18.67 and a 1-year high of $33.24. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 1.84 and a beta of 0.11.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. Analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.29%. Conagra Brands’s dividend payout ratio is presently 58.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CAG shares. Evercore ISI decreased their price objective on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Morgan Stanley decreased their price target on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, July 11th. Stifel Nicolaus cut their price objective on Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. Finally, UBS Group reduced their price objective on Conagra Brands from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $22.58.

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.