Sompo Asset Management Co. Ltd. Invests $204,000 in Conagra Brands, Inc. (NYSE:CAG)

Sompo Asset Management Co. Ltd. purchased a new position in Conagra Brands, Inc. (NYSE:CAG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,270 shares of the company’s stock, valued at approximately $204,000.

A number of other large investors have also recently made changes to their positions in CAG. Swedbank AB boosted its stake in Conagra Brands by 3.1% during the third quarter. Swedbank AB now owns 674,465 shares of the company’s stock valued at $21,934,000 after buying an additional 20,384 shares during the period. Cerity Partners LLC boosted its stake in Conagra Brands by 6.5% during the third quarter. Cerity Partners LLC now owns 397,297 shares of the company’s stock valued at $12,920,000 after buying an additional 24,103 shares during the period. AlphaCore Capital LLC boosted its stake in Conagra Brands by 9.2% during the third quarter. AlphaCore Capital LLC now owns 8,852 shares of the company’s stock valued at $288,000 after buying an additional 743 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Conagra Brands by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,985 shares of the company’s stock valued at $100,909,000 after buying an additional 63,738 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Up 0.9 %

CAG opened at $27.42 on Monday. The firm has a 50-day simple moving average of $29.67 and a two-hundred day simple moving average of $29.90. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The company has a market capitalization of $13.09 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.82 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. Analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research reports. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Bank of America dropped their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Six 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.63.

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.