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Conagra Brands (NYSE:CAG) Shares Sold by Allianz Asset Management GmbH

Conagra Brands logo with Consumer Staples background

Allianz Asset Management GmbH lessened its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 35.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,193 shares of the company's stock after selling 28,426 shares during the quarter. Allianz Asset Management GmbH's holdings in Conagra Brands were worth $1,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CAG. Massachusetts Financial Services Co. MA purchased a new stake in Conagra Brands during the 4th quarter worth approximately $110,704,000. Two Sigma Advisers LP grew its position in Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after purchasing an additional 2,058,000 shares during the last quarter. Deutsche Bank AG raised its stake in Conagra Brands by 51.6% in the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company's stock worth $157,184,000 after acquiring an additional 1,928,883 shares during the last quarter. Invesco Ltd. raised its stake in Conagra Brands by 18.5% in the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after acquiring an additional 1,745,319 shares during the last quarter. Finally, KBC Group NV raised its stake in Conagra Brands by 560.1% in the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company's stock worth $54,480,000 after acquiring an additional 1,733,297 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CAG shares. Wells Fargo & Company reduced their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 9th. 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. Barclays reduced their target price on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Stifel Nicolaus lowered their target price on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Finally, Morgan Stanley lowered their price objective 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of "Hold" and an average target price of $22.58.

View Our Latest Stock Report on Conagra Brands

Conagra Brands Price Performance

CAG stock traded up $0.26 during trading on Friday, hitting $18.52. The stock had a trading volume of 11,513,183 shares, compared to its average volume of 12,705,398. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. Conagra Brands has a twelve month low of $18.18 and a twelve month high of $33.24. The stock has a market capitalization of $8.84 billion, a P/E ratio of 7.75, a PEG ratio of 1.75 and a beta of 0.11. The company's 50-day moving average price is $20.79 and its two-hundred day moving average price is $23.64.

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 for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The firm had revenue of $2,781,800 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company's revenue was down 4.3% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

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. This represents a $1.40 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands's payout ratio is presently 58.58%.

Conagra Brands Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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