Harvest Fund Management Co. Ltd Has $62,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Harvest Fund Management Co. Ltd boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 27,057.1% during the 3rd quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Marshall Wace LLP increased its position in Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the period. Federated Hermes Inc. raised its holdings in Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Squarepoint Ops LLC lifted its position in Conagra Brands by 148.2% during the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after purchasing an additional 1,513,726 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Conagra Brands by 2,552.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after purchasing an additional 1,241,121 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $27.45 on Thursday. The stock’s fifty day simple moving average is $29.47 and its 200 day simple moving average is $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 company has a market capitalization of $13.10 billion, a PE ratio of 26.65, a PEG ratio of 2.83 and a beta of 0.34. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly 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). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

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

Wall Street Analysts Forecast Growth

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