Conagra Brands (NYSE:CAG) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Conagra Brands (NYSE:CAG - Free Report) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 842,094 shares of the company's stock after acquiring an additional 89,445 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of Conagra Brands worth $22,459,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CAG. Ameriprise Financial Inc. increased its stake in shares of 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 last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Conagra Brands by 42.1% in the first quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company's stock worth $289,000 after buying an additional 3,207 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Conagra Brands by 269.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company's stock valued at $5,532,000 after purchasing an additional 151,209 shares during the last quarter. KBC Group NV increased its stake in Conagra Brands by 560.1% during the first quarter. KBC Group NV now owns 2,042,766 shares of the company's stock valued at $54,480,000 after purchasing an additional 1,733,297 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Conagra Brands during the fourth quarter valued at $5,034,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CAG shares. Royal Bank Of Canada cut their price target on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, July 11th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Bank of America downgraded Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $27.00 to $20.00 in a report on Thursday, June 12th. Stifel Nicolaus dropped their target price on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Finally, The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $26.00 to $21.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $22.58.

Conagra Brands Stock Performance

NYSE:CAG opened at $18.74 on Tuesday. The stock has a fifty day moving average price of $21.54 and a 200-day moving average price of $24.13. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 1.82 and a beta of 0.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. Conagra Brands has a fifty-two week low of $18.67 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its 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 firm had revenue of $2,781,800 billion during the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. Conagra Brands's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. As a group, equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.47%. Conagra Brands's dividend payout ratio (DPR) 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.

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