Principal Financial Group Inc. Has $18.66 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Principal Financial Group Inc. boosted its position in Conagra Brands, Inc. (NYSE:CAG) by 0.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 573,789 shares of the company’s stock after purchasing an additional 3,597 shares during the period. Principal Financial Group Inc. owned about 0.12% of Conagra Brands worth $18,660,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bridgewater Advisors Inc. lifted its position in shares of Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after buying an additional 376 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Conagra Brands by 4.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 27,570 shares of the company’s stock valued at $897,000 after purchasing an additional 1,291 shares during the last quarter. Centennial Wealth Advisory LLC lifted its holdings in Conagra Brands by 5.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 12,579 shares of the company’s stock valued at $409,000 after purchasing an additional 689 shares during the last quarter. Capital Management Corp VA increased its holdings in shares of Conagra Brands by 5.0% in the third quarter. Capital Management Corp VA now owns 254,112 shares of the company’s stock valued at $8,264,000 after purchasing an additional 12,037 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Conagra Brands in the third quarter valued at $75,000. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

CAG has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group started coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Bank of America decreased their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average price target of $31.63.

Conagra Brands Trading Down 0.7 %

CAG opened at $27.46 on Friday. The company has a 50-day simple moving average of $30.32 and a 200 day simple moving average of $30.07. Conagra Brands, Inc. has a twelve month low of $26.62 and a twelve month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 2.85 and a beta of 0.34.

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

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

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.