UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Conagra Brands, Inc. (NYSE:CAG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,580,987 shares of the company's stock after purchasing an additional 266,415 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.75% of Conagra Brands worth $99,372,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in shares of Conagra Brands by 104.1% in the fourth quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock worth $49,776,000 after purchasing an additional 914,820 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after purchasing an additional 22,790 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Conagra Brands by 13.2% in the fourth quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock worth $3,756,000 after purchasing an additional 15,834 shares during the last quarter. Machina Capital S.A.S. bought a new position in shares of Conagra Brands in the fourth quarter worth about $558,000. Finally, Forsta AP Fonden grew its holdings in shares of Conagra Brands by 8.9% in the fourth quarter. Forsta AP Fonden now owns 123,600 shares of the company's stock worth $3,430,000 after purchasing an additional 10,100 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.50 during mid-day trading on Tuesday, reaching $22.90. 6,351,230 shares of the stock traded hands, compared to its average volume of 5,392,230. The business has a 50-day moving average of $24.67 and a 200 day moving average of $25.85. 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 quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $10.93 billion, a PE ratio of 22.45, a PEG ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its 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). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share. On average, analysts predict that Conagra Brands, Inc. 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, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Monday, April 28th. Conagra Brands's payout ratio is presently 205.88%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley began coverage on shares of Conagra Brands in a report on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price on the stock. Barclays decreased 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 report on Monday, May 12th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company decreased 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands has an average rating of "Hold" and an average target price of $27.50.

About Conagra Brands

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.