Conagra Brands, Inc. (NYSE:CAG) Holdings Cut by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,040,605 shares of the company's stock after selling 56,009 shares during the quarter. Nuveen Asset Management LLC owned 0.22% of Conagra Brands worth $28,877,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in Conagra Brands by 104.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock worth $49,776,000 after purchasing an additional 914,820 shares in the last quarter. State of Alaska Department of Revenue increased its position in Conagra Brands by 41.0% during the 4th quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after purchasing an additional 22,790 shares in the last quarter. Sound Income Strategies LLC grew its position in Conagra Brands by 13.2% in the fourth quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock valued at $3,756,000 after acquiring an additional 15,834 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $558,000. Finally, Forsta AP Fonden grew its position in Conagra Brands by 8.9% in the fourth quarter. Forsta AP Fonden now owns 123,600 shares of the company's stock valued at $3,430,000 after acquiring an additional 10,100 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAG shares. Stifel Nicolaus lowered 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 report on Wednesday, February 19th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Barclays lowered 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 report on Monday, May 12th. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley started coverage on shares of Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $27.50.

Conagra Brands Stock Up 0.4%

Shares of Conagra Brands stock traded up $0.09 on Friday, hitting $22.40. 6,785,018 shares of the company's stock traded hands, compared to its average volume of 5,388,378. The stock has a market cap of $10.69 billion, a P/E ratio of 21.96, a PEG ratio of 1.76 and a beta of 0.18. 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 $24.74 and its 200 day moving average is $25.91. Conagra Brands, Inc. has a 52-week low of $21.98 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. Equities analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) 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.