Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 732,470 shares of the company's stock after selling 40,159 shares during the quarter. Ensign Peak Advisors Inc owned 0.15% of Conagra Brands worth $20,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $29,000. Grove Bank & Trust increased 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 worth $31,000 after acquiring an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded up $0.20 during trading on Friday, hitting $22.97. 7,918,247 shares of the company traded hands, compared to its average volume of 5,296,508. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.76 and a beta of 0.18. The business's fifty day moving average is $25.07 and its 200-day moving average is $26.12. Conagra Brands, Inc. has a one year low of $22.38 and a one year high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company 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%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 6.10%. Conagra Brands's dividend payout ratio is presently 205.88%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Stifel Nicolaus lowered their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Barclays lowered their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.50.

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.