Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Conagra Brands, Inc. (NYSE:CAG)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,443 shares of the company’s stock after selling 4,028 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Conagra Brands were worth $6,318,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted 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 acquiring an additional 786,816 shares in the last quarter. State Street Corp boosted its stake in shares of Conagra Brands by 12.8% during the 1st quarter. State Street Corp now owns 23,556,766 shares of the company’s stock worth $790,801,000 after acquiring an additional 2,671,720 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after acquiring an additional 1,737,380 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Conagra Brands by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 9,849,556 shares of the company’s stock worth $369,112,000 after acquiring an additional 167,385 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after acquiring an additional 2,619,372 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Royal Bank of Canada cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Barclays lifted their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands Stock Up 0.9 %

Shares of Conagra Brands stock opened at $30.62 on Friday. The business has a 50-day moving average of $28.83 and a 200-day moving average of $28.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The company has a market capitalization of $14.64 billion, a PE ratio of 15.39, a P/E/G ratio of 3.07 and a beta of 0.42. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $38.73.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.57%. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

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.