Worldquant Millennium Advisors LLC Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Worldquant Millennium Advisors LLC lessened its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 59.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 476,033 shares of the company's stock after selling 705,596 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.10% of Conagra Brands worth $13,210,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in Conagra Brands during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands during the 4th quarter worth approximately $41,000. Stonebridge Financial Group LLC acquired a new stake in Conagra Brands during the 4th quarter worth approximately $44,000. Asset Planning Inc acquired a new stake in Conagra Brands during the 4th quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust acquired a new stake in Conagra Brands during the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAG. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Stifel Nicolaus decreased their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Barclays decreased their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Finally, Wells Fargo & Company decreased their price objective on 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. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.50.

Conagra Brands Price Performance

Shares of CAG traded up $0.09 during mid-day trading on Friday, hitting $22.40. The company's stock had a trading volume of 6,785,018 shares, 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 firm has a 50-day simple moving average of $24.74 and a 200 day simple moving average of $25.91. The firm has a market capitalization of $10.69 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $21.98 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.84 billion for 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 business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. Analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued 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 6.25%. Conagra Brands's dividend payout ratio is presently 205.88%.

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.