Man Group plc Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Man Group plc raised its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 694,778 shares of the company's stock after purchasing an additional 17,769 shares during the period. Man Group plc owned 0.15% of Conagra Brands worth $19,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the 4th quarter worth $28,000. Riverview Trust Co acquired a new stake in Conagra Brands in the fourth quarter valued at $29,000. Grove Bank & Trust lifted its holdings in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Conagra Brands during the 4th quarter worth about $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Conagra Brands during the 4th quarter worth about $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

CAG stock traded down $0.26 on Thursday, hitting $22.23. The company's stock had a trading volume of 5,232,686 shares, compared to its average volume of 5,332,417. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The firm has a 50 day moving average of $24.89 and a two-hundred day moving average of $26.02. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. 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 announced its 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). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Conagra Brands's quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date is Monday, April 28th. Conagra Brands's payout ratio is currently 205.88%.

Wall Street Analyst Weigh In

CAG has been the topic of several research analyst reports. Barclays cut their target price on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. 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. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their target price 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. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of "Hold" and an average price target of $27.50.

About Conagra Brands

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.