Principal Street Partners LLC Has $1.40 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Principal Street Partners LLC lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 69.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,382 shares of the company's stock after selling 112,635 shares during the quarter. Principal Street Partners LLC's holdings in Conagra Brands were worth $1,398,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Conagra Brands by 8.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,580,987 shares of the company's stock valued at $99,372,000 after purchasing an additional 266,415 shares in the last quarter. Woodline Partners LP purchased a new stake in Conagra Brands in the 4th quarter worth about $795,000. Vident Advisory LLC boosted its position in Conagra Brands by 21.5% during the 4th quarter. Vident Advisory LLC now owns 55,699 shares of the company's stock worth $1,546,000 after acquiring an additional 9,869 shares during the period. Twinbeech Capital LP purchased a new position in Conagra Brands during the 4th quarter valued at about $13,323,000. Finally, Two Sigma Advisers LP increased its holdings in shares of Conagra Brands by 33.9% in 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 during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CAG shares. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Barclays dropped 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 note on Monday, May 12th. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Morgan Stanley started coverage on 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. Finally, Wells Fargo & Company dropped their target price on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.50.

Conagra Brands Stock Up 0.1%

Shares of CAG stock opened at $23.01 on Tuesday. The stock's 50 day simple moving average is $25.01 and its 200 day simple moving average is $26.06. Conagra Brands, Inc. has a twelve month low of $22.38 and a twelve month high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.76 and a beta of 0.18.

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

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 6.08%. Conagra Brands's dividend payout ratio is 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.

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