Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 139,682 shares of the company’s stock after acquiring an additional 1,472 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Conagra Brands were worth $4,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its stake in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP raised its position in Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after buying an additional 3,133,200 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after acquiring an additional 2,242,186 shares during the period. Holocene Advisors LP purchased a new stake in shares of Conagra Brands in the third quarter valued at about $65,932,000. Finally, Federated Hermes Inc. increased its stake in shares of Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after acquiring an additional 1,871,238 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Up 0.4 %

Shares of CAG stock opened at $28.20 on Friday. The stock has a market cap of $13.46 billion, a P/E ratio of 27.37, a P/E/G ratio of 2.86 and a beta of 0.31. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The business has a fifty day simple moving average of $28.40 and a 200-day simple moving average of $29.59.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. On average, analysts forecast that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 4.97%. Conagra Brands’s payout ratio is currently 135.92%.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent analyst reports. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Citigroup reduced their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company increased their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Six equities 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, the stock has an average rating of “Hold” and an average price target of $31.50.

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.