SG Americas Securities LLC Grows Stake in Conagra Brands, Inc. (NYSE:CAG)

SG Americas Securities LLC lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 1,508.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,531 shares of the company's stock after buying an additional 235,891 shares during the period. SG Americas Securities LLC owned approximately 0.05% of Conagra Brands worth $6,708,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Conagra Brands by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares during the last quarter. Geode Capital Management LLC grew its position in Conagra Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after purchasing an additional 231,477 shares during the period. Invesco Ltd. grew its position in Conagra Brands by 18.5% in the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after purchasing an additional 1,745,319 shares during the period. Two Sigma Advisers LP raised 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 buying an additional 2,058,000 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Conagra Brands during the 4th quarter valued at $168,877,000. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAG has been the subject of a number of research reports. Barclays reduced their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. The Goldman Sachs Group lowered shares of Conagra Brands from a "neutral" rating to a "sell" rating and reduced their price target for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a research report on Monday, June 2nd. Morgan Stanley assumed coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price target for the company. Finally, Stifel Nicolaus reduced their target price on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of "Hold" and a consensus target price of $25.36.

Conagra Brands Price Performance

CAG stock traded up $0.02 during trading on Monday, reaching $21.59. The company's stock had a trading volume of 9,894,892 shares, compared to its average volume of 5,558,195. Conagra Brands, Inc. has a 1 year low of $21.18 and a 1 year high of $33.24. 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 company has a market capitalization of $10.31 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.76 and a beta of 0.14. The company's fifty day moving average is $23.58 and its 200-day moving average is $25.34.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date was Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is currently 205.88%.

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.