Sumitomo Mitsui DS Asset Management Company Ltd Has $1.44 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,731 shares of the company’s stock after buying an additional 1,219 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Conagra Brands were worth $1,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Conagra Brands during the 4th quarter worth approximately $28,000. Grove Bank & Trust boosted its position in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in Conagra Brands during the third quarter worth $47,000. ST Germain D J Co. Inc. raised its position in Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after buying an additional 529 shares during the last quarter. Finally, Kennebec Savings Bank bought a new position in Conagra Brands during the 3rd quarter valued at $59,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of CAG opened at $24.90 on Wednesday. Conagra Brands, Inc. has a 1 year low of $24.18 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock’s fifty day moving average price is $26.60 and its two-hundred day moving average price is $28.82. The firm has a market cap of $11.88 billion, a PE ratio of 24.41, a PEG ratio of 1.70 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.62%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $30.33.

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.