Charles Schwab Investment Management Inc. Acquires 63,738 Shares of Conagra Brands, Inc. (NYSE:CAG)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,102,985 shares of the company’s stock after purchasing an additional 63,738 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of Conagra Brands worth $100,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Aigen Investment Management LP bought a new position in shares of Conagra Brands in the third quarter valued at approximately $1,020,000. Pacer Advisors Inc. raised its stake in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Conagra Brands in the third quarter valued at approximately $3,829,000. Swedbank AB bought a new position in shares of Conagra Brands in the first quarter valued at approximately $18,268,000. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Conagra Brands in the third quarter valued at approximately $967,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

CAG opened at $27.48 on Wednesday. The company has a fifty day moving average price of $29.57 and a two-hundred day moving average price of $29.88. 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, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The firm has a market capitalization of $13.11 billion, a PE ratio of 26.69, a P/E/G ratio of 2.82 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released its 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 firm posted $0.66 EPS. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 135.92%.

Analyst Ratings Changes

CAG has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised their price target 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. Bank of America lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.