Swiss National Bank Reduces Holdings in Conagra Brands (NYSE:CAG)

Swiss National Bank reduced its stake in Conagra Brands (NYSE:CAG) by 0.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,346,212 shares of the company’s stock after selling 2,100 shares during the quarter. Swiss National Bank owned 0.28% of Conagra Brands worth $35,903,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Conagra Brands by 11.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 874,815 shares of the company’s stock worth $23,331,000 after acquiring an additional 86,666 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Conagra Brands by 19.2% in the 1st quarter. Y.D. More Investments Ltd now owns 5,258 shares of the company’s stock worth $140,000 after acquiring an additional 847 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Conagra Brands by 320.9% in the 1st quarter. Headlands Technologies LLC now owns 19,972 shares of the company’s stock worth $533,000 after acquiring an additional 15,227 shares during the last quarter. 1834 Investment Advisors Co. lifted its holdings in shares of Conagra Brands by 2.7% in the 1st quarter. 1834 Investment Advisors Co. now owns 138,453 shares of the company’s stock worth $3,693,000 after acquiring an additional 3,621 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Conagra Brands by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,378,340 shares of the company’s stock worth $90,100,000 after acquiring an additional 138,756 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Up 0.1%

Shares of NYSE:CAG opened at $19.27 on Tuesday. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.24. The company’s 50 day moving average is $20.35 and its two-hundred day moving average is $23.34. 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 company has a market cap of $9.22 billion, a PE ratio of 8.06, a P/E/G ratio of 1.84 and a beta of 0.08.

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

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. Conagra Brands’s dividend payout ratio is currently 58.58%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI decreased their price objective on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating on the stock in a report on Friday, July 11th. Morgan Stanley decreased their price objective on shares of Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Friday, July 11th. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, July 11th. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 9th. Finally, Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the stock a “market perform” rating in a report on Friday, July 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.58.

About Conagra Brands

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.