QSM Asset Management Ltd Has $8.75 Million Stock Position in Conagra Brands (NYSE:CAG)

QSM Asset Management Ltd boosted its holdings in Conagra Brands (NYSE:CAG - Free Report) by 20.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 324,229 shares of the company's stock after acquiring an additional 54,000 shares during the quarter. Conagra Brands accounts for about 6.6% of QSM Asset Management Ltd's investment portfolio, making the stock its 4th largest position. QSM Asset Management Ltd owned 0.07% of Conagra Brands worth $8,749,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CAG. Bessemer Group Inc. increased its position in shares of Conagra Brands by 0.6% during the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock valued at $2,166,000 after purchasing an additional 429 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Conagra Brands by 82.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after purchasing an additional 452 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its position in shares of Conagra Brands by 1.3% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock valued at $1,030,000 after purchasing an additional 500 shares during the last quarter. Xponance Inc. increased its position in shares of Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after purchasing an additional 505 shares during the last quarter. Finally, Capstone Triton Financial Group LLC increased its position in shares of Conagra Brands by 1.5% during the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock valued at $995,000 after purchasing an additional 535 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Down 0.5%

Conagra Brands stock traded down $0.11 on Friday, hitting $20.39. 11,421,600 shares of the stock traded hands, compared to its average volume of 5,704,368. The business's fifty day simple moving average is $22.79 and its 200 day simple moving average is $24.95. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.71. The firm has a market cap of $9.73 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.14. Conagra Brands has a 1 year low of $20.26 and a 1 year high of $33.24.

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). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. Conagra Brands's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. As a group, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.87%. The ex-dividend date was Monday, April 28th. Conagra Brands's dividend payout ratio is presently 205.88%.

Analyst Ratings Changes

CAG has been the topic of several recent research reports. Barclays reduced their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. UBS Group assumed coverage on Conagra Brands in a research report on Monday, June 16th. They set a "neutral" rating and a $22.00 price target on the stock. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Finally, Wells Fargo & Company reduced their price target on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday, June 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $25.36.

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.