Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 8.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,157 shares of the company's stock after selling 18,130 shares during the quarter. Handelsbanken Fonder AB's holdings in Conagra Brands were worth $5,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in Conagra Brands by 0.6% during the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock worth $2,166,000 after purchasing an additional 429 shares during the period. Summit Financial Wealth Advisors LLC increased its holdings in Conagra Brands by 1.3% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc increased its holdings in Conagra Brands by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after purchasing an additional 501 shares during the period. Xponance Inc. increased its holdings in Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock worth $1,823,000 after purchasing an additional 505 shares during the period. Finally, Capstone Triton Financial Group LLC increased its holdings in Conagra Brands by 1.5% during the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock worth $995,000 after purchasing an additional 535 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 3.3%

CAG stock traded down $0.73 on Friday, hitting $21.56. 10,692,611 shares of the company's stock were exchanged, compared to its average volume of 5,533,809. Conagra Brands, Inc. has a 12-month low of $21.51 and a 12-month high of $33.24. The firm has a 50 day moving average price of $23.65 and a two-hundred day moving average price of $25.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The stock has a market cap of $10.29 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 1.76 and a beta of 0.14.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 6.50%. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, June 2nd. Morgan Stanley started coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target on the stock. JPMorgan Chase & Co. cut their price target 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 cut their price target for the company from $27.00 to $20.00 in a report on Thursday. Finally, Barclays cut their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $25.70.

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.