Mitsubishi UFJ Asset Management UK Ltd. Grows Position in Conagra Brands, Inc. (NYSE:CAG)

Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Conagra Brands were worth $813,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Conagra Brands by 266.5% in the third quarter. Blue Trust Inc. now owns 7,824 shares of the company’s stock valued at $254,000 after buying an additional 5,689 shares in the last quarter. Inspire Advisors LLC increased its stake in shares of Conagra Brands by 6.9% in the 3rd quarter. Inspire Advisors LLC now owns 53,411 shares of the company’s stock valued at $1,737,000 after purchasing an additional 3,433 shares in the last quarter. Trust Point Inc. acquired a new position in Conagra Brands in the 3rd quarter worth about $214,000. Aaron Wealth Advisors LLC boosted its position in Conagra Brands by 40.9% during the third quarter. Aaron Wealth Advisors LLC now owns 10,507 shares of the company’s stock worth $342,000 after purchasing an additional 3,049 shares in the last quarter. Finally, Stonegate Investment Group LLC boosted its position in Conagra Brands by 151.3% during the third quarter. Stonegate Investment Group LLC now owns 25,097 shares of the company’s stock worth $816,000 after purchasing an additional 15,110 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of CAG stock traded up $0.01 during trading hours on Friday, reaching $30.32. The company had a trading volume of 5,561,849 shares, compared to its average volume of 4,778,772. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month 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 company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 3.01 and a beta of 0.32. The stock has a fifty day moving average of $31.15 and a 200-day moving average of $30.29.

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

Conagra Brands Dividend Announcement

The firm also recently disclosed 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 of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.62%. Conagra Brands’s payout ratio is 191.78%.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAG. Evercore ISI reduced their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Barclays decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company boosted 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. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.63.

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.