Conagra Brands, Inc. (NYSE:CAG) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lessened its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 36.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,978 shares of the company's stock after selling 11,344 shares during the period. OMERS ADMINISTRATION Corp's holdings in Conagra Brands were worth $554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands during the 4th quarter worth about $28,000. Wedge Capital Management L L P NC increased its stake in Conagra Brands by 10.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 130,098 shares of the company's stock worth $3,610,000 after purchasing an additional 12,363 shares during the period. Merit Financial Group LLC purchased a new stake in Conagra Brands during the fourth quarter worth about $275,000. Arkadios Wealth Advisors lifted its position in shares of Conagra Brands by 1.1% during the fourth quarter. Arkadios Wealth Advisors now owns 53,369 shares of the company's stock worth $1,481,000 after purchasing an additional 600 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after purchasing an additional 447 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Down 0.8%

Conagra Brands stock traded down $0.18 during midday trading on Thursday, reaching $22.30. The company's stock had a trading volume of 9,762,303 shares, compared to its average volume of 5,349,598. The company has a market cap of $10.65 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $24.89 and a 200-day simple moving average of $26.02. Conagra Brands, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business 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%. The company's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 6.28%. Conagra Brands's payout ratio is currently 205.88%.

Analyst Ratings Changes

Several brokerages recently weighed in on CAG. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Barclays cut their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Stifel Nicolaus reduced their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley began coverage on Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Conagra Brands has a consensus rating of "Hold" and an average price target of $27.50.

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.