Lazard Asset Management LLC Has $355,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Lazard Asset Management LLC raised its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 3,661.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,863 shares of the company's stock after purchasing an additional 12,521 shares during the quarter. Lazard Asset Management LLC's holdings in Conagra Brands were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Conagra Brands during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Conagra Brands in the fourth quarter valued at approximately $41,000. Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands during the fourth quarter valued at approximately $44,000. Asset Planning Inc acquired a new stake in Conagra Brands during the fourth quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust acquired a new position in Conagra Brands in the 4th quarter valued at $73,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CAG shares. Stifel Nicolaus cut their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Barclays reduced 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 report on Monday, May 12th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Morgan Stanley started coverage on shares of Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price on the stock. Nine 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $27.50.

Conagra Brands Stock Up 2.0%

CAG traded up $0.46 during midday trading on Tuesday, hitting $22.86. 2,814,667 shares of the company's stock traded hands, compared to its average volume of 5,378,727. The stock's fifty day simple moving average is $24.67 and its 200-day simple moving average is $25.85. Conagra Brands, Inc. has a one year low of $21.98 and a one year high of $33.24. The company has a market cap of $10.91 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. 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 (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $0.69 EPS. The company's revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is 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.