Conagra Brands (NYSE:CAG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Conagra Brands (NYSE:CAG - Free Report) by 6.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,119,234 shares of the company's stock after selling 343,180 shares during the period. Bank of New York Mellon Corp owned 1.07% of Conagra Brands worth $136,530,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in Conagra Brands by 104.1% in the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock valued at $49,776,000 after acquiring an additional 914,820 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Conagra Brands by 269.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company's stock valued at $5,532,000 after acquiring an additional 151,209 shares during the last quarter. Inspire Advisors LLC raised its holdings in Conagra Brands by 18.4% in the 4th quarter. Inspire Advisors LLC now owns 63,249 shares of the company's stock valued at $1,755,000 after acquiring an additional 9,838 shares during the last quarter. KBC Group NV raised its holdings in Conagra Brands by 560.1% in the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company's stock valued at $54,480,000 after acquiring an additional 1,733,297 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Conagra Brands during the 4th quarter valued at $5,034,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on CAG shares. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday. Morgan Stanley lowered their price objective on shares of Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Evercore ISI decreased their price target on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.73.

Conagra Brands Stock Down 0.5%

NYSE:CAG traded down $0.10 on Friday, reaching $19.39. The stock had a trading volume of 20,149,050 shares, compared to its average volume of 5,993,784. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $22.04 and a 200 day moving average of $24.53. The stock has a market cap of $9.26 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 1.55 and a beta of 0.11. Conagra Brands has a 12-month low of $18.82 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. On average, research analysts predict that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.22%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

Conagra Brands 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.