Federation des caisses Desjardins du Quebec Has $3.47 Million Holdings in Conagra Brands $CAG

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Conagra Brands by 27.5%, bringing its total holdings to $3.47 million.
• Conagra Brands reported a missed earnings estimate of $0.56 per share for the last quarter, underperforming the forecast of $0.61 and seeing a 4.3% decline in revenue year-over-year.
• The company has announced a quarterly dividend of $0.35, reflecting an annualized dividend yield of 7.2%.

Federation des caisses Desjardins du Quebec decreased its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 130,190 shares of the company's stock after selling 49,387 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Conagra Brands were worth $3,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CAG. Ameriprise Financial Inc. increased its stake in Conagra Brands by 233.7% in the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company's stock valued at $159,625,000 after purchasing an additional 4,191,555 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Conagra Brands by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company's stock valued at $217,686,000 after buying an additional 2,702,407 shares during the period. Two Sigma Advisers LP increased its position in Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock valued at $225,746,000 after buying an additional 2,058,000 shares in the last quarter. Deutsche Bank AG increased its position in Conagra Brands by 51.6% in the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company's stock valued at $157,184,000 after buying an additional 1,928,883 shares in the last quarter. Finally, KBC Group NV raised its stake in Conagra Brands by 560.1% during the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company's stock worth $54,480,000 after buying an additional 1,733,297 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Trading Up 2.0%

NYSE CAG opened at $19.31 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $19.39 and a 200 day simple moving average of $22.57. Conagra Brands has a 12 month low of $18.18 and a 12 month high of $33.24. The firm has a market capitalization of $9.25 billion, a P/E ratio of 8.08, a PEG ratio of 1.81 and a beta of 0.07.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The business's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. On average, analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date was Wednesday, July 30th. Conagra Brands's payout ratio is presently 58.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CAG shares. Bank of America cut Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. UBS Group reduced their price target on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Evercore ISI decreased their price target on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a research note on Friday, July 11th. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Finally, Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.17.

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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