Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Conagra Brands, Inc. (NYSE:CAG) by 18.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,426,955 shares of the company’s stock after purchasing an additional 1,330,249 shares during the quarter. Federated Hermes Inc. owned 1.76% of Conagra Brands worth $241,517,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CAG. Riverview Trust Co raised its position in Conagra Brands by 132.8% during the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock worth $26,000 after buying an additional 539 shares during the last quarter. Thompson Investment Management Inc. lifted its position in Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Authentikos Wealth Advisory LLC purchased a new stake in Conagra Brands in the 3rd quarter valued at approximately $33,000. Clear Street Markets LLC increased its position in Conagra Brands by 93.2% during the 1st quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock worth $35,000 after purchasing an additional 451 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG traded down $0.25 during midday trading on Thursday, hitting $29.99. The company’s stock had a trading volume of 815,929 shares, compared to its average volume of 5,074,766. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $38.73. The firm’s fifty day moving average price is $28.72 and its 200-day moving average price is $28.47. The firm has a market cap of $14.34 billion, a P/E ratio of 15.19, a P/E/G ratio of 3.02 and a beta of 0.42.

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

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.67%. Conagra Brands’s payout ratio is currently 70.35%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank of Canada dropped 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. Stifel Nicolaus increased their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Citigroup boosted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Barclays lifted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.