Ontario Teachers Pension Plan Board Takes $967,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Ontario Teachers Pension Plan Board acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 29,739 shares of the company’s stock, valued at approximately $967,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Conagra Brands in the second quarter worth about $25,000. Chilton Capital Management LLC bought a new position in Conagra Brands during the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its position in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the period. LRI Investments LLC bought a new position in Conagra Brands during the first quarter valued at approximately $42,000. Finally, Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the third quarter valued at approximately $47,000. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Six 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Trading Up 2.4 %

Shares of CAG stock opened at $27.12 on Thursday. The stock’s 50-day moving average price is $29.86 and its 200-day moving average price is $29.95. Conagra Brands, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the company earned $0.66 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. Equities research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.16%. Conagra Brands’s dividend payout ratio is currently 135.92%.

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.