Conagra Brands $CAG Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management has increased its holdings in Conagra Brands by 1.2%, acquiring a total of 3,622,873 shares, which value approximately $96.6 million.
• In terms of stock performance, Conagra Brands has a current market cap of $9.18 billion and reported earnings of $0.56 per share, missing expectations by $0.05.
• Conagra Brands recently declared a $0.35 quarterly dividend, which provides an annualized yield of 7.3% based on a payout ratio of 58.58%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,622,873 shares of the company's stock after acquiring an additional 41,886 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.76% of Conagra Brands worth $96,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAG. Triumph Capital Management grew its stake in shares of Conagra Brands by 169.8% in the fourth quarter. Triumph Capital Management now owns 32,882 shares of the company's stock valued at $912,000 after buying an additional 20,693 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Conagra Brands in the fourth quarter valued at about $628,000. Lazard Asset Management LLC grew its stake in shares of Conagra Brands by 3,661.1% in the fourth quarter. Lazard Asset Management LLC now owns 12,863 shares of the company's stock valued at $355,000 after buying an additional 12,521 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Conagra Brands by 24.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 163,314 shares of the company's stock valued at $4,525,000 after buying an additional 32,495 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $436,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAG. Evercore ISI reduced their target price on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. began coverage on Conagra Brands in a research note on Wednesday, August 20th. They set a "neutral" rating and a $20.00 target price for the company. Royal Bank Of Canada reduced their target price on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday, July 11th. Morgan Stanley reduced their target price on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. Finally, UBS Group reduced their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $22.17.

Conagra Brands Stock Performance

NYSE:CAG traded down $0.14 during midday trading on Thursday, reaching $18.75. 11,557,400 shares of the company traded hands, compared to its average volume of 10,927,544. Conagra Brands has a twelve month low of $18.18 and a twelve month high of $32.90. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. The company has a fifty day moving average price of $19.12 and a 200 day moving average price of $22.18.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data 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). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.5%. Conagra Brands's payout ratio is currently 58.58%.

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.