Allspring Global Investments Holdings LLC decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 46.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 665,638 shares of the company's stock after selling 585,570 shares during the period. Allspring Global Investments Holdings LLC owned 0.14% of Conagra Brands worth $19,077,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Conagra Brands by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,185 shares of the company's stock worth $2,155,000 after buying an additional 3,975 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Conagra Brands by 0.4% in the first quarter. Great West Life Assurance Co. Can now owns 309,389 shares of the company's stock worth $10,942,000 after acquiring an additional 1,186 shares during the period. Synovus Financial Corp increased its stake in shares of Conagra Brands by 3.7% in the first quarter. Synovus Financial Corp now owns 22,548 shares of the company's stock worth $758,000 after acquiring an additional 807 shares during the period. Blair William & Co. IL increased its stake in shares of Conagra Brands by 19.8% in the first quarter. Blair William & Co. IL now owns 27,151 shares of the company's stock worth $911,000 after acquiring an additional 4,487 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Conagra Brands by 509.0% in the first quarter. Allianz Asset Management GmbH now owns 366,225 shares of the company's stock worth $12,294,000 after acquiring an additional 306,086 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, April 5th. Stifel Nicolaus lifted their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the company a "hold" rating in a report on Friday, April 5th. Barclays lifted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, April 8th. Finally, Citigroup lifted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $33.14.
Check Out Our Latest Report on Conagra Brands
Conagra Brands Trading Up 1.5 %
NYSE:CAG traded up $0.45 on Monday, hitting $29.76. The stock had a trading volume of 5,656,334 shares, compared to its average volume of 5,128,396. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.94 and a beta of 0.41. The company has a fifty day moving average price of $28.66 and a two-hundred day moving average price of $28.44. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $38.73.
Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business's revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. Equities research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.
Conagra Brands Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Monday, April 29th. Conagra Brands's dividend payout ratio (DPR) is 70.35%.
About Conagra Brands
(
Free Report)
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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