abrdn plc Buys 30,915 Shares of Conagra Brands, Inc. (NYSE:CAG)

abrdn plc boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,059 shares of the company’s stock after purchasing an additional 30,915 shares during the period. abrdn plc’s holdings in Conagra Brands were worth $6,164,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in shares of Conagra Brands by 188.3% in the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock valued at $4,395,000 after purchasing an additional 100,141 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Conagra Brands by 120.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock valued at $23,572,000 after purchasing an additional 469,421 shares in the last quarter. Adams Asset Advisors LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $7,690,000. Assenagon Asset Management S.A. boosted its holdings in shares of Conagra Brands by 368.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock valued at $29,126,000 after purchasing an additional 799,175 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after purchasing an additional 2,619,372 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.6 %

Shares of NYSE:CAG opened at $31.08 on Friday. The firm has a market cap of $14.86 billion, a P/E ratio of 15.62, a P/E/G ratio of 3.14 and a beta of 0.42. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $38.73. The business has a fifty day simple moving average of $29.23 and a 200 day simple moving average of $28.68.

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

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

Analyst Upgrades and Downgrades

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

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.