Conagra Brands (NYSE:CAG) Stock Position Lifted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its stake in Conagra Brands (NYSE:CAG - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 843,879 shares of the company's stock after purchasing an additional 25,495 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.18% of Conagra Brands worth $22,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAG. Proficio Capital Partners LLC acquired a new position in shares of Conagra Brands in the fourth quarter valued at approximately $2,035,000. Raymond James Financial Inc. acquired a new position in shares of Conagra Brands in the fourth quarter valued at approximately $16,588,000. Independent Advisor Alliance increased its holdings in shares of Conagra Brands by 9.5% in the fourth quarter. Independent Advisor Alliance now owns 8,788 shares of the company's stock valued at $244,000 after purchasing an additional 765 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Conagra Brands by 8.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 19,410 shares of the company's stock valued at $539,000 after purchasing an additional 1,431 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Conagra Brands by 49.2% in the fourth quarter. Farther Finance Advisors LLC now owns 4,846 shares of the company's stock valued at $134,000 after purchasing an additional 1,599 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAG. Barclays decreased their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada decreased their price target on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their price target on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday. Finally, Bank of America downgraded Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.58.

Conagra Brands Trading Down 1.9%

NYSE:CAG traded down $0.38 on Tuesday, hitting $19.01. 14,792,585 shares of the stock were exchanged, compared to its average volume of 6,033,998. The stock has a market cap of $9.07 billion, a PE ratio of 7.95, a PEG ratio of 1.85 and a beta of 0.11. 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 stock has a fifty day moving average of $21.96 and a 200-day moving average of $24.43. Conagra Brands has a fifty-two week low of $18.82 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its 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 return on equity of 12.52% and a net margin of 9.92%. The company had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the previous year, the company earned $0.61 EPS. Conagra Brands's quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date is Wednesday, July 30th. Conagra Brands's dividend payout ratio is currently 58.58%.

About Conagra Brands

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.