USS Investment Management Ltd Has $6.40 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

USS Investment Management Ltd cut its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,681 shares of the company's stock after selling 76,563 shares during the period. USS Investment Management Ltd's holdings in Conagra Brands were worth $6,403,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Conagra Brands during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands during the fourth quarter worth $41,000. Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands during the fourth quarter worth $44,000. Asset Planning Inc acquired a new stake in shares of Conagra Brands during the fourth quarter worth $53,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Conagra Brands during the fourth quarter worth $73,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of NYSE:CAG traded down $0.11 on Wednesday, hitting $22.80. The stock had a trading volume of 1,428,978 shares, compared to its average volume of 5,376,848. Conagra Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm's 50 day moving average price is $24.61 and its 200-day moving average price is $25.83. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth 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 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 6.14%. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays lowered their price target 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 lowered their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective for the company. Nine research analysts have rated the stock with 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, the company currently has an average rating of "Hold" and a consensus target price of $27.50.

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.