Conagra Brands $CAG Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Conagra Brands (NYSE:CAG) by 5.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,625 shares of the company’s stock after buying an additional 2,779 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Conagra Brands were worth $1,118,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Beacon Investment Advisory Services Inc. boosted its position in shares of Conagra Brands by 3.2% in the first quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company’s stock worth $388,000 after buying an additional 450 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock worth $27,000 after buying an additional 452 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Conagra Brands by 33.6% in the first quarter. Hexagon Capital Partners LLC now owns 2,009 shares of the company’s stock worth $54,000 after buying an additional 505 shares during the period. Capstone Triton Financial Group LLC boosted its position in shares of Conagra Brands by 1.5% in the fourth quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company’s stock worth $995,000 after buying an additional 535 shares during the period. Finally, Equitable Trust Co. boosted its position in shares of Conagra Brands by 1.8% in the first quarter. Equitable Trust Co. now owns 29,927 shares of the company’s stock worth $798,000 after buying an additional 536 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 1.1%

Conagra Brands stock opened at $18.34 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The business’s 50-day simple moving average is $19.08 and its 200-day simple moving average is $22.02. The firm has a market capitalization of $8.78 billion, a PE ratio of 7.67, a PEG ratio of 1.77 and a beta of 0.07. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $32.90.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend was Wednesday, July 30th. Conagra Brands’s payout ratio is presently 58.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAG. The Goldman Sachs Group cut Conagra Brands from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Evercore ISI decreased their target price on Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a research report on Friday, July 11th. Morgan Stanley reduced their price objective on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, July 11th. Stifel Nicolaus reduced their price objective on Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, July 11th. Finally, Bank of America cut Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.17.

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.