Gateway Investment Advisers LLC Buys Shares of 143,991 Conagra Brands, Inc. (NYSE:CAG)

Gateway Investment Advisers LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 143,991 shares of the company's stock, valued at approximately $3,840,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAG. Ameriprise Financial Inc. lifted its holdings in Conagra Brands by 104.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock worth $49,776,000 after acquiring an additional 914,820 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Conagra Brands by 41.0% during the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after purchasing an additional 22,790 shares during the period. Machina Capital S.A.S. bought a new position in shares of Conagra Brands during the 4th quarter valued at about $558,000. Proficio Capital Partners LLC acquired a new position in shares of Conagra Brands in the 4th quarter valued at approximately $2,035,000. Finally, Inspire Advisors LLC increased its stake in Conagra Brands by 18.4% during the 4th quarter. Inspire Advisors LLC now owns 63,249 shares of the company's stock worth $1,755,000 after purchasing an additional 9,838 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of research reports. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Barclays reduced their target price on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Morgan Stanley began coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a research report on Monday, June 2nd. Nine equities research 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.com, the company presently has an average rating of "Hold" and an average price target of $27.10.

Conagra Brands Trading Up 0.5%

Conagra Brands stock opened at $22.37 on Friday. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.76 and a beta of 0.14. The firm has a 50-day moving average of $24.05 and a 200-day moving average of $25.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a one year low of $21.98 and a one year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.69 earnings per share. On average, equities analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date was Monday, April 28th. Conagra Brands's dividend payout ratio is currently 205.88%.

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.

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