Guggenheim Capital LLC Decreases Position in Conagra Brands, Inc. (NYSE:CAG)

Guggenheim Capital LLC reduced its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 172,675 shares of the company's stock after selling 32,168 shares during the period. Guggenheim Capital LLC's holdings in Conagra Brands were worth $4,792,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CAG. Vanguard Group Inc. lifted its position in shares of Conagra Brands by 2.0% during 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 last quarter. Nordea Investment Management AB grew its stake in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after purchasing an additional 618,096 shares during the period. Geode Capital Management LLC grew its stake in Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after purchasing an additional 231,477 shares during the period. Invesco Ltd. grew its stake in Conagra Brands by 18.5% during the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after purchasing an additional 1,745,319 shares during the period. Finally, Norges Bank acquired a new stake in Conagra Brands during the fourth quarter worth approximately $168,877,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Barclays increased their price target on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. 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. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.90.

Conagra Brands Stock Performance

Conagra Brands stock traded down $0.23 during trading on Thursday, reaching $25.00. The company had a trading volume of 1,003,677 shares, compared to its average volume of 6,089,284. 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's 50-day simple moving average is $25.79 and its 200 day simple moving average is $26.85. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 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 analysts' expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. Sell-side analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date is Monday, April 28th. Conagra Brands's payout ratio is 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.