American International Group Inc. grew its position in Conagra Brands Inc (NYSE:CAG) by 6.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 141,559 shares of the company’s stock after acquiring an additional 8,448 shares during the period. American International Group Inc.’s holdings in Conagra Brands were worth $4,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caption Management LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at $357,000. Putnam Investments LLC grew its stake in shares of Conagra Brands by 4.7% in the second quarter. Putnam Investments LLC now owns 411,293 shares of the company’s stock valued at $14,695,000 after buying an additional 18,618 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Conagra Brands by 15.0% in the second quarter. Great West Life Assurance Co. Can now owns 455,083 shares of the company’s stock valued at $16,263,000 after buying an additional 59,276 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Conagra Brands in the second quarter valued at $203,000. Finally, Manning & Napier Group LLC grew its stake in shares of Conagra Brands by 17.7% in the third quarter. Manning & Napier Group LLC now owns 56,559 shares of the company’s stock valued at $1,920,000 after buying an additional 8,503 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the company. ValuEngine raised Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Credit Suisse Group set a $35.00 target price on Conagra Brands and gave the stock a “hold” rating in a research note on Monday, November 26th. UBS Group raised Conagra Brands from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $40.00 in a research note on Monday, October 8th. Zacks Investment Research cut Conagra Brands from a “buy” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Stephens started coverage on Conagra Brands in a research note on Monday, August 20th. They set an “overweight” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Conagra Brands presently has an average rating of “Buy” and a consensus price target of $42.20.

CAG opened at $30.84 on Friday. Conagra Brands Inc has a 12 month low of $30.55 and a 12 month high of $39.43. The firm has a market cap of $12.57 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.87 and a beta of 0.14. The company has a quick ratio of 0.39, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, September 27th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that Conagra Brands Inc will post 2.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, January 30th will be paid a dividend of $0.2125 per share. The ex-dividend date is Tuesday, January 29th. This represents a $0.85 annualized dividend and a yield of 2.76%. Conagra Brands’s payout ratio is 40.28%.

In other Conagra Brands news, insider Sean Connolly purchased 14,184 shares of the firm’s stock in a transaction on Friday, October 12th. The stock was bought at an average cost of $35.25 per share, with a total value of $499,986.00. Following the acquisition, the insider now directly owns 217,607 shares of the company’s stock, valued at $7,670,646.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David S. Marberger purchased 2,836 shares of the firm’s stock in a transaction on Friday, October 12th. The shares were acquired at an average cost of $35.25 per share, with a total value of $99,969.00. Following the completion of the acquisition, the chief financial officer now directly owns 12,721 shares in the company, valued at $448,415.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 24,112 shares of company stock valued at $849,948 over the last three months. 0.92% of the stock is currently owned by insiders.

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Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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

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