Charles Schwab Investment Management Inc. Acquires 138,756 Shares of Conagra Brands (NYSE:CAG)

Charles Schwab Investment Management Inc. boosted its position in Conagra Brands (NYSE:CAG - Free Report) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,378,340 shares of the company's stock after buying an additional 138,756 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.71% of Conagra Brands worth $90,100,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CAG. Ameriprise Financial Inc. increased its position in Conagra Brands by 104.1% in the fourth quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock worth $49,776,000 after buying an additional 914,820 shares during the period. Victory Capital Management Inc. raised its stake in shares of Conagra Brands by 11.9% during the 1st quarter. Victory Capital Management Inc. now owns 842,094 shares of the company's stock worth $22,459,000 after purchasing an additional 89,445 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Conagra Brands in the 1st quarter valued at approximately $396,000. OneDigital Investment Advisors LLC grew its holdings in Conagra Brands by 42.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company's stock valued at $289,000 after buying an additional 3,207 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Conagra Brands by 6.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company's stock worth $6,926,000 after purchasing an additional 16,546 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank Of Canada cut their price objective on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, July 11th. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. Barclays decreased their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Morgan Stanley reduced their price target on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. dropped their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.58.

Conagra Brands Stock Down 1.5%

Shares of NYSE:CAG traded down $0.29 during trading hours on Friday, reaching $19.16. The stock had a trading volume of 8,385,226 shares, compared to its average volume of 11,450,016. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The firm's 50 day moving average is $20.11 and its 200-day moving average is $23.17. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 1.84 and a beta of 0.08. Conagra Brands has a 1 year low of $18.18 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The company 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 9.92% and a return on equity of 12.52%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. Research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.3%. Conagra Brands's dividend payout ratio is currently 58.58%.

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.