Mackenzie Financial Corp Buys 51,005 Shares of Conagra Brands, Inc. (NYSE:CAG)

Mackenzie Financial Corp increased its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 128.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,658 shares of the company's stock after purchasing an additional 51,005 shares during the period. Mackenzie Financial Corp's holdings in Conagra Brands were worth $2,516,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in Conagra Brands in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the 4th quarter worth approximately $41,000. Stonebridge Financial Group LLC bought a new position in Conagra Brands in the 4th quarter worth approximately $44,000. Asset Planning Inc bought a new position in Conagra Brands in the 4th quarter worth approximately $53,000. Finally, Fourth Dimension Wealth LLC bought a new position in Conagra Brands in the 4th quarter worth approximately $53,000. Institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their target price for the company from $33.00 to $26.00 in a research report on Monday, February 24th. 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. Morgan Stanley began 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 for the company. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Wednesday, February 19th. Finally, Barclays reduced their price objective 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. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $27.10.

Conagra Brands Stock Performance

Shares of CAG stock traded down $0.17 on Monday, reaching $22.72. The stock had a trading volume of 2,766,987 shares, compared to its average volume of 5,423,461. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm's 50-day moving average is $24.44 and its two-hundred day moving average is $25.71. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 12 month low of $21.98 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued 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). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 6.16%. 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.