Harvest Fund Management Co. Ltd Buys 1,894 Shares of Conagra Brands, Inc. (NYSE:CAG)

Harvest Fund Management Co. Ltd raised its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 27,057.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,901 shares of the company’s stock after purchasing an additional 1,894 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Conagra Brands were worth $62,000 as of its most recent filing with the SEC.

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

Conagra Brands Stock Performance

NYSE CAG opened at $27.45 on Thursday. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a 50 day moving average of $29.47 and a 200-day moving average of $29.85. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.83 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results 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). The business 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 company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.10%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Wall Street Analyst Weigh In

CAG has been the topic of several analyst reports. Bank of America lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands 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.