Sumitomo Mitsui Trust Group Inc. Has $39.86 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Sumitomo Mitsui Trust Group Inc. lifted its position in Conagra Brands, Inc. (NYSE:CAG) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,225,637 shares of the company’s stock after purchasing an additional 30,685 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Conagra Brands worth $39,858,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CAG. Marshall Wace LLP grew its holdings in shares of Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after purchasing an additional 1,513,726 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Conagra Brands by 2,552.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after purchasing an additional 1,241,121 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its holdings in shares of Conagra Brands by 523.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after purchasing an additional 1,214,859 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAG. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price objective 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. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.63.

Conagra Brands Stock Down 2.8 %

Shares of NYSE CAG opened at $26.69 on Friday. The firm has a market capitalization of $12.74 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.85 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, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The firm’s 50-day moving average is $30.20 and its 200-day moving average is $30.04.

Conagra Brands (NYSE:CAG) last issued its earnings results 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). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. Equities analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The company 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 is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.25%. Conagra Brands’s dividend payout ratio is 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.