KBC Group NV Acquires 4,193 Shares of Conagra Brands, Inc. (NYSE:CAG)

KBC Group NV lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 5.7% in the third quarter, Holdings Channel reports. The fund owned 77,815 shares of the company’s stock after purchasing an additional 4,193 shares during the quarter. KBC Group NV’s holdings in Conagra Brands were worth $2,531,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Courier Capital LLC grew its holdings in Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after purchasing an additional 355 shares during the last quarter. CWM LLC grew its holdings in Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after purchasing an additional 359 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Conagra Brands by 0.7% in the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after purchasing an additional 376 shares during the last quarter. Bridgewater Advisors Inc. grew its holdings in Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after purchasing an additional 376 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CAG shares. Bank of America cut their price target 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. Wells Fargo & Company boosted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. 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. The Goldman Sachs Group initiated 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. Finally, BNP Paribas raised shares of 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Price Performance

NYSE:CAG opened at $26.61 on Tuesday. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.75 and a beta of 0.34. The firm’s fifty day moving average is $30.07 and its two-hundred day moving average is $30.00.

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

Conagra Brands Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.26%. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

Conagra Brands 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.