Conagra Brands $CAG Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Conagra Brands by 7.9%, owning approximately 0.32% of the company after selling 131,484 shares in the first quarter, valued at $41,024,000.
• Conagra Brands reported $0.56 EPS for the last quarter, missing analysts' expectations of $0.61 and showing a 4.3% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.35 per share, resulting in a 7.2% dividend yield for shareholders, payable on August 28th.

Russell Investments Group Ltd. reduced its holdings in Conagra Brands (NYSE:CAG - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,538,284 shares of the company's stock after selling 131,484 shares during the period. Russell Investments Group Ltd. owned about 0.32% of Conagra Brands worth $41,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CAG. Alpine Bank Wealth Management purchased a new stake in shares of Conagra Brands during the first quarter worth about $26,000. Capital Advisors Ltd. LLC boosted its holdings in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after buying an additional 452 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Conagra Brands during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its position in shares of Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock valued at $28,000 after acquiring an additional 741 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Conagra Brands in the first quarter worth approximately $34,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CAG. Royal Bank Of Canada reduced their price objective 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. Barclays decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Bank of America lowered shares of Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. Finally, UBS Group lowered their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $22.58.

Conagra Brands Trading Down 0.8%

Shares of Conagra Brands stock traded down $0.15 during trading hours on Monday, hitting $19.03. The company's stock had a trading volume of 4,989,921 shares, compared to its average volume of 7,681,621. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 1.84 and a beta of 0.08. 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 twelve month low of $18.18 and a twelve month high of $33.24. The firm has a fifty day moving average of $20.11 and a 200-day moving average of $23.15.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, July 10th. The company reported $0.56 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 $2,781,800 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the company earned $0.61 EPS. The company's quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.4%. The ex-dividend date is Wednesday, July 30th. Conagra Brands's dividend payout ratio (DPR) is 58.58%.

Conagra Brands 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.