Resona Asset Management Co. Ltd. Buys 14,676 Shares of Conagra Brands $CAG

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Conagra Brands by 9.2%, owning 174,382 shares worth approximately $4.65 million as of the latest SEC filing.
• Conagra Brands reported a quarterly earnings per share (EPS) of $0.56, missing analysts' expectations by $0.05, with revenues declining 4.3% year-over-year.
• The company declared a quarterly dividend of $0.35 per share, resulting in an annualized yield of 7.3%, with the ex-dividend date set for July 30th.

Resona Asset Management Co. Ltd. boosted its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,382 shares of the company's stock after purchasing an additional 14,676 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Conagra Brands were worth $4,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in Conagra Brands during the fourth quarter valued at about $16,588,000. Townsquare Capital LLC raised its holdings in Conagra Brands by 107.3% during the fourth quarter. Townsquare Capital LLC now owns 18,067 shares of the company's stock valued at $501,000 after acquiring an additional 9,353 shares during the period. Mariner LLC raised its holdings in Conagra Brands by 0.9% during the fourth quarter. Mariner LLC now owns 189,742 shares of the company's stock valued at $5,265,000 after acquiring an additional 1,730 shares during the period. CreativeOne Wealth LLC bought a new stake in Conagra Brands during the fourth quarter valued at about $853,000. Finally, NewEdge Advisors LLC raised its holdings in Conagra Brands by 31.5% during the fourth quarter. NewEdge Advisors LLC now owns 22,587 shares of the company's stock valued at $627,000 after acquiring an additional 5,415 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of CAG stock traded up $0.0450 during trading hours on Thursday, hitting $19.2950. The stock had a trading volume of 7,467,492 shares, compared to its average volume of 10,723,029. Conagra Brands has a one year low of $18.18 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. The stock's 50-day moving average price is $19.86 and its two-hundred day moving average price is $23.01. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.84 and a beta of 0.08.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The firm had revenue of $2,781,800 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm posted $0.61 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands's payout ratio is presently 58.58%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank Of Canada decreased their price target on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, July 11th. Wells Fargo & Company decreased their price target on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. Morgan Stanley decreased their price target on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Evercore ISI decreased their price target on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a report on Friday, July 11th. Finally, Bank of America cut Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of "Hold" and a consensus price target of $22.17.

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.