Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.82 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Conagra Brands, Inc. (NYSE:CAG) by 52.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,780 shares of the company’s stock after selling 111,417 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Conagra Brands were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Empirical Finance LLC raised its holdings in Conagra Brands by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after buying an additional 362 shares during the last quarter. Bridgewater Advisors Inc. raised its holdings in Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after buying an additional 376 shares during the last quarter. Grove Bank & Trust raised its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after buying an additional 501 shares during the last quarter. Finally, International Private Wealth Advisors LLC raised its holdings in Conagra Brands by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after buying an additional 527 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of CAG stock opened at $25.34 on Thursday. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $26.03 and a 200-day moving average of $28.44.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is currently 137.25%.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of research reports. Citigroup dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $26.00 in a report on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Finally, Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.67.

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.