Thompson Siegel & Walmsley LLC Has $81.10 Million Stake in Conagra Brands $CAG

Key Points

• Thompson Siegel & Walmsley LLC cut its Conagra Brands stake by 11.1% in the fourth quarter, but still held 4.68 million shares worth about $81.1 million, making CAG its 9th-largest holding.
• Two directors recently bought shares: John J. Mulligan purchased 17,500 shares and Richard H. Lenny bought 25,000 shares, signaling insider confidence despite the stock's weak performance.
• Conagra shares were trading near their 52-week low at $13.29, after the company missed EPS estimates in its latest quarter and received several analyst price-target cuts; the stock now carries a consensus rating of "Reduce".

Thompson Siegel & Walmsley LLC lessened its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 11.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,684,971 shares of the company's stock after selling 584,561 shares during the period. Conagra Brands comprises approximately 1.4% of Thompson Siegel & Walmsley LLC's investment portfolio, making the stock its 9th biggest holding. Thompson Siegel & Walmsley LLC owned approximately 0.98% of Conagra Brands worth $81,097,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Clear Harbor Asset Management LLC bought a new position in Conagra Brands in the fourth quarter worth approximately $847,000. MUFG Securities EMEA plc grew its holdings in Conagra Brands by 114.4% in the fourth quarter. MUFG Securities EMEA plc now owns 19,661 shares of the company's stock worth $340,000 after purchasing an additional 10,492 shares during the last quarter. Sfmg LLC purchased a new position in Conagra Brands in the fourth quarter worth $280,000. BNP Paribas Financial Markets grew its holdings in Conagra Brands by 5.4% in the fourth quarter. BNP Paribas Financial Markets now owns 957,946 shares of the company's stock worth $16,582,000 after purchasing an additional 49,231 shares during the last quarter. Finally, Patrick Mauro Investment Advisor INC. purchased a new position in Conagra Brands in the fourth quarter worth $393,000. Institutional investors own 83.75% of the company's stock.

Insider Transactions at Conagra Brands

In related news, Director John J. Mulligan purchased 17,500 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the transaction, the director directly owned 20,728 shares in the company, valued at approximately $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard H. Lenny purchased 25,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average price of $14.34 per share, with a total value of $358,500.00. Following the transaction, the director owned 229,340 shares in the company, valued at approximately $3,288,735.60. The trade was a 12.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company's stock.

Conagra Brands Price Performance

Shares of CAG opened at $13.29 on Monday. Conagra Brands has a 1-year low of $13.13 and a 1-year high of $22.98. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The firm has a market capitalization of $6.36 billion, a PE ratio of -132.86 and a beta of -0.02. The company's fifty day moving average price is $14.53 and its 200-day moving average price is $16.64.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. Conagra Brands's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. On average, equities research analysts predict that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.5%. Conagra Brands's dividend payout ratio is -1,400.00%.

Analyst Ratings Changes

Several research firms have issued reports on CAG. Evercore cut their price target on shares of Conagra Brands from $19.00 to $18.00 in a report on Thursday, April 2nd. TD Cowen cut their price target on shares of Conagra Brands from $18.00 to $14.00 and set a "hold" rating on the stock in a report on Wednesday, March 25th. Wells Fargo & Company cut their price target on shares of Conagra Brands from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Conagra Brands from $18.00 to $14.00 and set a "hold" rating on the stock in a report on Monday, March 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $17.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of "Reduce" and an average target price of $15.47.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra's product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender's and Banquet in the frozen foods category, as well as Hunt's sauces, Orville Redenbacher's popcorn, Slim Jim meat snacks and Reddi-wip toppings.

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