ING Groep NV Sells 3,110 Shares of Conagra Brands, Inc. (NYSE:CAG)

ING Groep NV cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,819 shares of the company’s stock after selling 3,110 shares during the quarter. ING Groep NV’s holdings in Conagra Brands were worth $1,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brookstone Capital Management increased its position in Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after acquiring an additional 62,187 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after purchasing an additional 19,329 shares during the period. State of Alaska Department of Revenue increased its holdings in Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock valued at $2,175,000 after purchasing an additional 22,790 shares during the period. Nordea Investment Management AB raised its position in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after purchasing an additional 618,096 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Conagra Brands during the 3rd quarter worth about $1,020,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 3.9 %

CAG stock opened at $25.82 on Monday. The stock’s 50 day simple moving average is $26.15 and its 200 day simple moving average is $28.52. The company has a market cap of $12.32 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. Conagra Brands’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders 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 dividend yield of 5.42%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Analyst Ratings Changes

Several research firms have recently weighed in on CAG. Barclays decreased their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Seven 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.78.

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.