Nordea Investment Management AB Has $341.05 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Nordea Investment Management AB increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,285,579 shares of the company’s stock after buying an additional 618,096 shares during the quarter. Nordea Investment Management AB’s holdings in Conagra Brands were worth $341,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lantz Financial LLC acquired a new position in Conagra Brands in the 2nd quarter worth about $201,000. Commonwealth Equity Services LLC grew its holdings in Conagra Brands by 5.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 185,052 shares of the company’s stock worth $5,259,000 after acquiring an additional 9,331 shares during the last quarter. TD Asset Management Inc increased its position in Conagra Brands by 16.4% in the 2nd quarter. TD Asset Management Inc now owns 212,734 shares of the company’s stock valued at $6,046,000 after acquiring an additional 29,999 shares during the period. National Bank of Canada FI raised its stake in shares of Conagra Brands by 21.3% during the second quarter. National Bank of Canada FI now owns 145,750 shares of the company’s stock valued at $4,124,000 after acquiring an additional 25,559 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in Conagra Brands by 9.3% in the second quarter. Lake Street Advisors Group LLC now owns 8,731 shares of the company’s stock valued at $248,000 after purchasing an additional 744 shares during the period. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAG. 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 note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company dropped their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Seven 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.56.

Conagra Brands Price Performance

Conagra Brands stock opened at $27.65 on Monday. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.91 and a beta of 0.29. The business’s 50 day simple moving average is $27.81 and its 200 day simple moving average is $29.42. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast that Conagra Brands, Inc. will post 2.58 EPS for the current 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 given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.06%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

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.