Caisse DE Depot ET Placement DU Quebec Buys New Stake in Conagra Brands, Inc. (NYSE:CAG)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 414,191 shares of the company's stock, valued at approximately $11,494,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.09% of Conagra Brands at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in Conagra Brands by 0.6% in the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock valued at $2,166,000 after acquiring an additional 429 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after buying an additional 447 shares during the last quarter. Summit Financial Wealth Advisors LLC grew its holdings in Conagra Brands by 1.3% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after buying an additional 500 shares in the last quarter. CIBC Asset Management Inc raised its position in Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock valued at $2,346,000 after buying an additional 501 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after acquiring an additional 505 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of CAG traded down $0.17 during trading hours on Tuesday, reaching $23.35. 4,541,934 shares of the stock traded hands, compared to its average volume of 5,149,613. The company's 50-day moving average price is $25.59 and its two-hundred day moving average price is $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. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a market cap of $11.14 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS. On average, analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current 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 paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio is presently 205.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday. Stifel Nicolaus reduced their price target 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. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and reduced their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.80.

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.