Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 72,924 shares of the company’s stock after selling 650 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Conagra Brands were worth $2,372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAG. Bessemer Group Inc. grew its position in shares of Conagra Brands by 237.9% in the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after purchasing an additional 54,195 shares during the period. Aigen Investment Management LP purchased a new position in Conagra Brands in the 3rd quarter valued at about $1,020,000. UniSuper Management Pty Ltd boosted its holdings in Conagra Brands by 573.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after buying an additional 32,396 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Conagra Brands during the 3rd quarter worth approximately $3,829,000. Finally, Swedbank AB acquired a new position in shares of Conagra Brands during the first quarter valued at approximately $18,268,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. 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 research note on Thursday, October 17th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Six research 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. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $26.49 on Wednesday. The firm has a market capitalization of $12.64 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.75 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The firm’s 50 day moving average is $29.95 and its two-hundred day moving average is $29.97.

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

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s 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.