Gotham Asset Management LLC Boosts Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Gotham Asset Management LLC boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,199 shares of the company's stock after acquiring an additional 35,280 shares during the quarter. Gotham Asset Management LLC owned 0.10% of Conagra Brands worth $13,076,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CAG. Brookstone Capital Management grew its holdings in shares of Conagra Brands by 18.4% in the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after purchasing an additional 62,187 shares in the last quarter. State of Alaska Department of Revenue grew its stake 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 acquiring an additional 22,790 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Conagra Brands by 13.2% during the fourth quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock worth $3,756,000 after acquiring an additional 15,834 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of Conagra Brands in the fourth quarter valued at $558,000. Finally, Forsta AP Fonden boosted its holdings in Conagra Brands by 8.9% in the fourth quarter. Forsta AP Fonden now owns 123,600 shares of the company's stock valued at $3,430,000 after purchasing an additional 10,100 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAG has been the topic of several recent research reports. The Goldman Sachs Group downgraded Conagra Brands from a "buy" rating to a "neutral" rating and cut their price target for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Morgan Stanley initiated coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price on the stock. Stifel Nicolaus decreased 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 note on Wednesday, February 19th. Barclays increased their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Nine 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 company's stock. Based on data from MarketBeat, Conagra Brands has a consensus rating of "Hold" and a consensus price target of $27.80.

Conagra Brands Price Performance

Shares of CAG opened at $23.11 on Friday. The firm has a fifty day moving average price of $25.44 and a 200 day moving average price of $26.35. The stock has a market cap of $11.03 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $22.78 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG - Get Free Report) last announced 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 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% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.06%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

Conagra Brands 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.

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