Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,149,100 shares of the company's stock after acquiring an additional 692,282 shares during the period. Northern Trust Corp owned approximately 1.08% of Conagra Brands worth $142,888,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CAG. Bessemer Group Inc. raised its holdings 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 valued at $2,166,000 after acquiring an additional 429 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Conagra Brands by 65.4% during the fourth 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 last quarter. Summit Financial Wealth Advisors LLC increased its holdings in shares of Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock valued at $1,030,000 after acquiring an additional 500 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Conagra Brands by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after purchasing an additional 501 shares during the period. Finally, Xponance Inc. raised its stake in shares of Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock worth $1,823,000 after buying an additional 505 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CAG shares. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and cut their target price for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Barclays boosted their target price on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.80.

Conagra Brands Stock Performance

Shares of CAG stock traded down $0.36 during trading hours on Wednesday, hitting $22.99. The company's stock had a trading volume of 4,746,649 shares, compared to its average volume of 5,149,209. The company has a 50 day moving average of $25.59 and a 200 day moving average of $26.49. 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 12-month low of $22.88 and a 12-month high of $33.24. The stock has a market cap of $10.98 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly 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 business had revenue of $2.84 billion during 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 was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 6.09%. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

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.