Bank of Nova Scotia Has $1.69 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Bank of Nova Scotia raised its holdings in Conagra Brands, Inc. (NYSE:CAGFree Report) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,712 shares of the company’s stock after acquiring an additional 8,941 shares during the quarter. Bank of Nova Scotia’s holdings in Conagra Brands were worth $1,692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CAG. Thrivent Financial for Lutherans raised its stake in Conagra Brands by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,348 shares of the company’s stock valued at $958,000 after purchasing an additional 310 shares during the last quarter. Westchester Capital Management Inc. lifted its position in Conagra Brands by 0.6% during the 2nd quarter. Westchester Capital Management Inc. now owns 64,675 shares of the company’s stock valued at $2,181,000 after purchasing an additional 367 shares during the period. Equitable Holdings Inc. raised its position in shares of Conagra Brands by 0.5% in the 1st quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock valued at $2,722,000 after acquiring an additional 373 shares during the period. Laurel Wealth Advisors Inc. increased its stake in Conagra Brands by 2.9% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 13,726 shares of the company’s stock worth $461,000 after purchasing an additional 388 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in Conagra Brands by 1.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock worth $781,000 after purchasing an additional 393 shares in the last quarter. 84.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CAG shares. Wells Fargo & Company started coverage on shares of Conagra Brands in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $31.00 target price for the company. Evercore ISI downgraded Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price target for the company. in a research note on Monday, December 11th. Royal Bank of Canada decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Finally, Citigroup assumed coverage on shares of Conagra Brands in a research report on Thursday, February 1st. They set a “neutral” rating and a $30.00 target price for the company. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.87.

Get Our Latest Analysis on Conagra Brands

Conagra Brands Stock Down 0.3 %

Shares of NYSE CAG opened at $27.70 on Tuesday. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $38.94. The business has a 50-day simple moving average of $28.53 and a two-hundred day simple moving average of $28.43. The company has a quick ratio of 0.31, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. The company has a market cap of $13.24 billion, a P/E ratio of 13.45, a P/E/G ratio of 2.95 and a beta of 0.42.

Conagra Brands (NYSE:CAGGet Free Report) last issued its quarterly earnings results on Thursday, January 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.23 billion. Conagra Brands had a return on equity of 14.78% and a net margin of 8.09%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. Research analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, January 30th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, January 29th. This represents a $1.40 dividend on an annualized basis and a yield of 5.05%. Conagra Brands’s payout ratio is 67.96%.

Conagra Brands Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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