Pinnacle Associates Ltd. Has $903,000 Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Pinnacle Associates Ltd. lifted its position in shares of Conagra Brands, Inc. (NYSE:CAGGet Rating) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,668 shares of the company’s stock after purchasing an additional 612 shares during the period. Pinnacle Associates Ltd.’s holdings in Conagra Brands were worth $903,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Conagra Brands by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 54,738,710 shares of the company’s stock worth $1,837,578,000 after purchasing an additional 786,816 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Conagra Brands by 11.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 27,918,907 shares of the company’s stock worth $955,943,000 after purchasing an additional 2,969,072 shares during the last quarter. State Street Corp grew its stake in Conagra Brands by 0.8% in the 2nd quarter. State Street Corp now owns 23,749,862 shares of the company’s stock valued at $813,195,000 after buying an additional 193,096 shares during the last quarter. Invesco Ltd. grew its stake in Conagra Brands by 10.7% in the 1st quarter. Invesco Ltd. now owns 8,716,615 shares of the company’s stock valued at $292,616,000 after buying an additional 841,538 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Conagra Brands by 20.4% in the 2nd quarter. Federated Hermes Inc. now owns 6,112,442 shares of the company’s stock valued at $209,290,000 after buying an additional 1,034,123 shares during the last quarter. 81.08% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $39.91 on Monday. The company has a 50 day moving average of $37.81 and a 200-day moving average of $35.62. Conagra Brands, Inc. has a 1-year low of $30.06 and a 1-year high of $41.30. The company has a current ratio of 0.92, a quick ratio of 0.29 and a debt-to-equity ratio of 0.92. The company has a market cap of $19.02 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.14 and a beta of 0.57.

Conagra Brands (NYSE:CAGGet Rating) last issued its quarterly earnings results on Thursday, January 5th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. Conagra Brands had a net margin of 5.66% and a return on equity of 14.38%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.67 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 2nd. Investors of record on Monday, January 30th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, January 27th. Conagra Brands’s payout ratio is 93.62%.

Insider Activity at Conagra Brands

In related news, EVP Carey Bartell sold 6,408 shares of the stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $34.50, for a total value of $221,076.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Robert G. Wise sold 50,000 shares of the stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $40.90, for a total value of $2,045,000.00. Following the completion of the transaction, the senior vice president now owns 22,717 shares of the company’s stock, valued at approximately $929,125.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Carey Bartell sold 6,408 shares of the stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $34.50, for a total transaction of $221,076.00. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Conagra Brands from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, January 6th. Evercore ISI upped their price target on shares of Conagra Brands from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 29th. Credit Suisse Group upped their price target on shares of Conagra Brands from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, January 6th. TheStreet upgraded shares of Conagra Brands from a “c+” rating to a “b-” rating in a research note on Friday, October 28th. Finally, Exane BNP Paribas assumed coverage on shares of Conagra Brands in a research note on Tuesday, November 15th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average target price of $40.45.

Conagra Brands Profile

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Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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