Palisade Asset Management LLC Has $905,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Palisade Asset Management LLC cut its position in Conagra Brands, Inc. (NYSE:CAG) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,834 shares of the company’s stock after selling 670 shares during the quarter. Palisade Asset Management LLC’s holdings in Conagra Brands were worth $905,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. raised its holdings in Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after buying an additional 1,871,238 shares during the last quarter. Pacer Advisors Inc. increased its position in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Conagra Brands by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after acquiring an additional 633,794 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Conagra Brands by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,985 shares of the company’s stock worth $100,909,000 after purchasing an additional 63,738 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Conagra Brands by 148.2% in the second 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. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of CAG opened at $27.43 on Friday. The firm has a market cap of $13.09 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.80 and a beta of 0.34. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The business’s 50 day moving average price is $29.67 and its two-hundred day moving average price is $29.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion for 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 firm’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

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 paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.10%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Bank of America decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average 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.