Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 653,107 Conagra Brands, Inc. (NYSE:CAG)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 653,107 shares of the company's stock, valued at approximately $18,124,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.14% of Conagra Brands at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock worth $1,631,671,000 after buying an additional 1,132,839 shares during the period. Geode Capital Management LLC grew its position in shares of 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 buying an additional 231,477 shares during the period. Invesco Ltd. grew its position in shares of 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 buying an additional 1,745,319 shares during the period. Two Sigma Advisers LP grew its position in shares of Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after buying an additional 2,058,000 shares during the period. Finally, Norges Bank purchased a new stake in shares of Conagra Brands in the 4th quarter worth about $168,877,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

CAG traded down $0.22 during midday trading on Tuesday, hitting $22.54. 1,105,228 shares of the company traded hands, compared to its average volume of 5,417,134. 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 firm has a market capitalization of $10.76 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company's 50-day moving average is $24.38 and its 200 day moving average is $25.68. Conagra Brands, Inc. has a 52 week low of $21.98 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted 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). The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands's revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands's dividend payout ratio is currently 205.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Morgan Stanley initiated 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 objective on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $27.10.

Conagra Brands Company 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.