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

Mitsubishi UFJ Asset Management UK Ltd. lifted its position in Conagra Brands, Inc. (NYSE:CAG) by 25.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Conagra Brands were worth $813,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CAG. Innealta Capital LLC purchased a new stake in Conagra Brands during the second quarter worth about $25,000. Chilton Capital Management LLC acquired a new stake in Conagra Brands during the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the period. Whittier Trust Co. grew its stake in shares of Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Conagra Brands during the first quarter worth $42,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CAG shares. Stifel Nicolaus decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Citigroup decreased their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Performance

CAG traded up $0.01 during trading on Friday, hitting $30.32. 5,561,849 shares of the stock were exchanged, compared to its average volume of 4,778,772. The firm has a market capitalization of $14.49 billion, a P/E ratio of 41.53, a PEG ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24. The stock has a fifty day moving average price of $31.15 and a two-hundred day moving average price of $30.29. 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 (NYSE:CAG) last announced 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). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.62%. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction that occurred 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 directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

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.