MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 44,443 Shares of Conagra Brands $CAG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Conagra Brands by 27.2%, acquiring an additional 44,443 shares in the first quarter, bringing its total holdings to 207,757 shares valued at approximately $5.54 million.
• The consensus rating for Conagra Brands is currently "Hold," with a target price of $22.17, reflecting cautious sentiment from analysts following a decline in earnings and revenue.
• Conagra Brands recently declared a quarterly dividend of $0.35, yielding 7.2%, with a payout ratio of 58.58%, appealing to investors seeking income amidst recent stock performance challenges.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 27.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,757 shares of the company's stock after purchasing an additional 44,443 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Conagra Brands were worth $5,536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAG. Ameriprise Financial Inc. increased its stake in Conagra Brands by 233.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company's stock valued at $159,625,000 after purchasing an additional 4,191,555 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Conagra Brands by 49.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company's stock valued at $217,686,000 after purchasing an additional 2,702,407 shares in the last quarter. Two Sigma Advisers LP increased its stake in Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock valued at $225,746,000 after purchasing an additional 2,058,000 shares in the last quarter. KBC Group NV increased its stake in Conagra Brands by 560.1% during the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company's stock valued at $54,480,000 after purchasing an additional 1,733,297 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Conagra Brands by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company's stock worth $1,610,971,000 after acquiring an additional 1,604,893 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CAG shares. JPMorgan Chase & Co. started coverage on shares of Conagra Brands in a report on Wednesday, August 20th. They set a "neutral" rating and a $20.00 price objective on the stock. UBS Group cut their price objective on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Sanford C. Bernstein set a $21.00 price objective on shares of Conagra Brands and gave the stock a "market perform" rating in a report on Friday, July 11th. Bank of America downgraded shares of Conagra Brands from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Finally, Stifel Nicolaus cut their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.17.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $19.38 on Thursday. The company's 50-day moving average is $19.30 and its 200 day moving average is $22.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The company has a market capitalization of $9.28 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 1.85 and a beta of 0.07. Conagra Brands has a fifty-two week low of $18.18 and a fifty-two week high of $33.04.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The company had revenue of $2.78 billion during the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.Conagra Brands's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. On average, equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Wednesday, July 30th. Conagra Brands's payout ratio is 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.

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