Manning & Napier Advisors LLC Has $892,000 Holdings in Conagra Brands (NYSE:CAG)

Manning & Napier Advisors LLC lowered its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 54.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,429 shares of the company's stock after selling 40,479 shares during the quarter. Manning & Napier Advisors LLC's holdings in Conagra Brands were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CAG. Capital Advisors Ltd. LLC grew its stake in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after buying an additional 452 shares during the last quarter. Riverview Trust Co bought a new position in shares of Conagra Brands during the 4th quarter worth about $29,000. AdvisorNet Financial Inc lifted its holdings in shares of Conagra Brands by 86.1% during the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after acquiring an additional 690 shares during the period. SBI Securities Co. Ltd. bought a new position in Conagra Brands during the 4th quarter valued at about $41,000. Finally, Fourth Dimension Wealth LLC bought a new position in Conagra Brands during the 4th quarter valued at about $53,000. Institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAG. UBS Group started coverage on shares of Conagra Brands in a report on Monday, June 16th. They set a "neutral" rating and a $22.00 price target for the company. JPMorgan Chase & Co. lowered their price target 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. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $26.00 to $21.00 in a report on Monday, June 9th. Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, June 2nd. Finally, Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $27.00 to $20.00 in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of "Hold" and a consensus price target of $25.36.

Conagra Brands Stock Down 0.8%

Shares of CAG stock traded down $0.16 during trading on Tuesday, reaching $21.45. The company's stock had a trading volume of 9,302,666 shares, compared to its average volume of 5,642,211. The company has a quick ratio of 0.23, a current ratio of 0.69 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average price of $23.07 and a 200-day moving average price of $25.10. Conagra Brands has a one year low of $21.18 and a one year high of $33.24. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.14.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The firm 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 company posted $0.69 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. Analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed 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 dividend yield of 6.53%. Conagra Brands's dividend payout ratio is currently 205.88%.

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.