Mercer Global Advisors Inc. ADV Reduces Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Mercer Global Advisors Inc. ADV decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,845 shares of the company's stock after selling 16,486 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Conagra Brands were worth $1,716,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of Conagra Brands by 0.6% during the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock worth $2,166,000 after acquiring an additional 429 shares during the last quarter. Grove Bank & Trust boosted its stake 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 purchasing an additional 447 shares during the period. Summit Financial Wealth Advisors LLC grew its position in Conagra Brands by 1.3% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after purchasing an additional 500 shares during the last quarter. CIBC Asset Management Inc increased its stake in Conagra Brands by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock valued at $2,346,000 after purchasing an additional 501 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after buying an additional 505 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CAG shares. Stifel Nicolaus lowered their price target on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company lowered their target price on 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. Barclays cut their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday. Morgan Stanley began coverage on Conagra Brands in a report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price target for the company. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $27.50.

Conagra Brands Price Performance

CAG stock traded down $0.43 on Tuesday, reaching $22.88. 2,603,129 shares of the company's stock were exchanged, compared to its average volume of 5,233,880. The stock has a fifty day moving average of $25.40 and a 200-day moving average of $26.29. The firm has a market cap of $10.92 billion, a PE ratio of 22.43, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a twelve month low of $22.65 and a twelve month high of $33.24.

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 company had revenue of $2.84 billion for 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%. Conagra Brands's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.12%. Conagra Brands's payout ratio is 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.