Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by State of Wyoming

State of Wyoming lifted its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 200.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,424 shares of the company's stock after purchasing an additional 14,283 shares during the period. State of Wyoming's holdings in Conagra Brands were worth $595,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $29,000. Grove Bank & Trust boosted its holdings in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after purchasing an additional 447 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Up 0.4%

Shares of CAG stock traded up $0.09 during trading hours on Friday, reaching $22.40. 6,785,018 shares of the company's stock were exchanged, compared to its average volume of 5,388,378. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock's 50 day moving average is $24.74 and its 200-day moving average is $25.91. Conagra Brands, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $33.24. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG - Get Free Report) last released its 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). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company earned $0.69 earnings per share. Conagra Brands's revenue was down 6.3% on a year-over-year basis. Analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is 205.88%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAG. Wells Fargo & Company reduced 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 note on Tuesday, February 18th. Barclays reduced 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 note on Monday, May 12th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, Stifel Nicolaus reduced 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 note on Wednesday, February 19th. Nine equities research 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 company. According to MarketBeat.com, Conagra Brands has a consensus rating of "Hold" and a consensus target price of $27.50.

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.