Assenagon Asset Management S.A. Raises Holdings in Conagra Brands, Inc. (NYSE:CAG)

Assenagon Asset Management S.A. increased its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 5,102.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,216,421 shares of the company's stock after purchasing an additional 1,193,041 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of Conagra Brands worth $32,442,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Bessemer Group Inc. raised its holdings in Conagra Brands by 0.6% in the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock worth $2,166,000 after purchasing an additional 429 shares during the period. Summit Financial Wealth Advisors LLC raised its holdings in Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc raised its holdings in Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after purchasing an additional 501 shares during the period. Xponance Inc. raised its holdings in Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock worth $1,823,000 after purchasing an additional 505 shares during the period. Finally, Capstone Triton Financial Group LLC raised its holdings in Conagra Brands by 1.5% in the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock worth $995,000 after purchasing an additional 535 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, June 2nd. Barclays reduced their target price on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Bank of America cut Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $27.00 to $20.00 in a report on Thursday. Stifel Nicolaus reduced their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley started coverage on Conagra Brands in a report on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given 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, Conagra Brands currently has a consensus rating of "Hold" and an average price target of $25.70.

Conagra Brands Price Performance

Shares of CAG stock traded down $0.73 during trading hours on Friday, reaching $21.56. The company had a trading volume of 10,692,611 shares, compared to its average volume of 5,540,686. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The stock has a fifty day moving average of $23.65 and a 200-day moving average of $25.39. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.76 and a beta of 0.14. Conagra Brands, Inc. has a 12-month low of $21.51 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $0.69 earnings per share. On average, equities 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 was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were given a $0.35 dividend. The ex-dividend date was Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.50%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

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.