BNP Paribas Financial Markets Acquires 100,892 Shares of Conagra Brands, Inc. (NYSE:CAG)

BNP Paribas Financial Markets increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,060,860 shares of the company's stock after acquiring an additional 100,892 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.22% of Conagra Brands worth $29,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 period. Geode Capital Management LLC raised its position in shares of Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after purchasing an additional 231,477 shares during the period. Invesco Ltd. grew its holdings in shares of Conagra Brands by 18.5% during the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock valued at $309,728,000 after buying an additional 1,745,319 shares during the last quarter. Norges Bank acquired a new stake in shares of Conagra Brands in the 4th quarter worth about $168,877,000. Finally, Bank of New York Mellon Corp lifted its position in Conagra Brands by 13.3% in the 4th quarter. Bank of New York Mellon Corp now owns 5,462,414 shares of the company's stock valued at $151,582,000 after acquiring an additional 642,806 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Barclays upped their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Nine equities research 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.80.

Conagra Brands Price Performance

NYSE CAG traded down $0.11 during trading hours on Friday, hitting $23.11. The company had a trading volume of 7,697,642 shares, compared to its average volume of 5,228,738. The firm has a 50 day simple moving average of $25.44 and a 200 day simple moving average of $26.33. Conagra Brands, Inc. has a 52 week low of $22.78 and a 52 week high of $33.24. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. Equities research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

Conagra Brands Company Profile

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.