Bridgewater Advisors Inc. Has $820,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Bridgewater Advisors Inc. lifted its position in Conagra Brands, Inc. (NYSE:CAG) by 1.5% during the 3rd quarter, Holdings Channel reports. The firm owned 25,224 shares of the company’s stock after buying an additional 376 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Conagra Brands were worth $820,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CAG. Marshall Wace LLP boosted its stake 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 in the last quarter. Federated Hermes Inc. lifted its position 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 buying an additional 1,871,238 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Conagra Brands by 148.2% during the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after acquiring an additional 1,513,726 shares during the last quarter. Assenagon Asset Management S.A. increased its position in 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 acquiring an additional 1,241,121 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its stake in shares of Conagra Brands by 523.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after acquiring an additional 1,214,859 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

CAG has been the subject of a number of research reports. Barclays lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.63.

Insider Activity at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at $4,890,108.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is owned by insiders.

Conagra Brands Stock Down 0.6 %

Shares of NYSE:CAG opened at $28.90 on Thursday. The company has a 50 day moving average price of $30.78 and a two-hundred day moving average price of $30.20. The company has a market capitalization of $13.79 billion, a PE ratio of 28.06, a PEG ratio of 2.96 and a beta of 0.34. Conagra Brands, Inc. has a 52 week low of $26.62 and a 52 week high of $33.24. 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 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. Analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.84%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

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.