ING Groep NV Sells 3,110 Shares of Conagra Brands, Inc. (NYSE:CAG)

ING Groep NV cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,819 shares of the company’s stock after selling 3,110 shares during the quarter. ING Groep NV’s holdings in Conagra Brands were worth $1,688,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAG. Hardy Reed LLC bought a new position in shares of Conagra Brands during the fourth quarter valued at about $328,000. Handelsbanken Fonder AB grew its position in Conagra Brands by 36.8% during the 4th quarter. Handelsbanken Fonder AB now owns 208,287 shares of the company’s stock worth $5,780,000 after acquiring an additional 56,012 shares during the last quarter. Keene & Associates Inc. purchased a new position in Conagra Brands in the 4th quarter worth approximately $2,402,000. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Conagra Brands by 5.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,940 shares of the company’s stock valued at $415,000 after purchasing an additional 757 shares during the last quarter. Finally, Valley Wealth Managers Inc. boosted its stake in shares of Conagra Brands by 6.9% during the fourth quarter. Valley Wealth Managers Inc. now owns 564,586 shares of the company’s stock valued at $15,667,000 after purchasing an additional 36,551 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Stifel Nicolaus cut their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average price target of $29.78.

Conagra Brands Trading Up 3.9 %

CAG opened at $25.82 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The stock has a market cap of $12.32 billion, a PE ratio of 25.31, a PEG ratio of 1.76 and a beta of 0.28. The business has a 50 day moving average of $26.15 and a 200-day moving average of $28.52.

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

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is currently 137.25%.

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.