American Trust Investment Advisors LLC acquired a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 193,990 shares of the company's stock, valued at approximately $5,383,000. Conagra Brands comprises about 2.2% of American Trust Investment Advisors LLC's investment portfolio, making the stock its 13th largest holding.
Several other institutional investors have also modified their holdings of CAG. Norges Bank acquired a new position in Conagra Brands during the fourth quarter worth $168,877,000. Massachusetts Financial Services Co. MA acquired a new position in Conagra Brands in the fourth quarter valued at $110,704,000. Invesco Ltd. lifted its holdings in shares of Conagra Brands by 18.5% during the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after acquiring an additional 1,745,319 shares during the period. Vanguard Group Inc. increased its holdings in shares of Conagra Brands by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock worth $1,631,671,000 after buying an additional 1,132,839 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Conagra Brands by 114.5% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company's stock worth $53,478,000 after purchasing an additional 1,028,631 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.
Conagra Brands Stock Performance
Shares of CAG traded down $0.17 during mid-day trading on Tuesday, reaching $23.35. The company's stock had a trading volume of 4,541,934 shares, compared to its average volume of 5,149,613. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The business has a 50-day simple moving average of $25.59 and a two-hundred day simple moving average of $26.49. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $11.14 billion, a P/E ratio of 22.89, a PEG ratio of 1.76 and a beta of 0.18.
Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm earned $0.69 EPS. Conagra Brands's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.
Conagra Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday. Barclays lifted their target price on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Finally, Wells Fargo & Company decreased their target price on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.80.
Read Our Latest Stock Analysis on CAG
About Conagra Brands
(
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.
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