Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 17.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,869 shares of the company’s stock after buying an additional 39,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Conagra Brands worth $7,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CAG. Norges Bank acquired a new stake in shares of Conagra Brands during the fourth quarter worth $140,473,000. AMF Tjanstepension AB acquired a new position in Conagra Brands during the first quarter valued at $47,980,000. Junto Capital Management LP acquired a new position in Conagra Brands during the fourth quarter valued at $36,069,000. Miller Howard Investments Inc. NY lifted its position in Conagra Brands by 523.8% during 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. Finally, Swedbank AB acquired a new position in shares of Conagra Brands in the first quarter worth about $18,268,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.88% of the company’s stock.

Conagra Brands Stock Up 0.1 %

Shares of NYSE:CAG traded up $0.04 during trading hours on Friday, reaching $31.08. The stock had a trading volume of 744,399 shares, compared to its average volume of 4,630,065. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm’s 50 day moving average is $29.69 and its 200-day moving average is $29.53. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 42.52, a P/E/G ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $31.82.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. Research analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Citigroup decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Barclays decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group initiated 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. Finally, Royal Bank of Canada reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $30.90.

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.