Russell Investments Group Ltd. Sells 415,655 Shares of Conagra Brands, Inc. (NYSE:CAG)

Russell Investments Group Ltd. lessened its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 21.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,544,598 shares of the company's stock after selling 415,655 shares during the period. Russell Investments Group Ltd. owned approximately 0.32% of Conagra Brands worth $44,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Invesco Ltd. lifted its holdings in Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company's stock valued at $265,294,000 after purchasing an additional 2,619,372 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company's stock valued at $388,580,000 after acquiring an additional 1,737,380 shares during the last quarter. Barclays PLC boosted its holdings in shares of Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company's stock worth $102,792,000 after acquiring an additional 1,614,986 shares in the last quarter. Federated Hermes Inc. grew its position in Conagra Brands by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company's stock worth $241,517,000 after acquiring an additional 1,330,249 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Conagra Brands by 401.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company's stock valued at $41,663,000 after purchasing an additional 1,216,389 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on CAG shares. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, April 5th. Stifel Nicolaus increased their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a "hold" rating in a report on Friday, April 5th. Barclays boosted their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Royal Bank of Canada lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Wednesday, January 3rd. Finally, Citigroup upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $33.14.

Conagra Brands Trading Down 0.5 %

Shares of NYSE:CAG traded down $0.16 during midday trading on Tuesday, hitting $30.78. The company had a trading volume of 6,131,311 shares, compared to its average volume of 5,083,047. The firm has a fifty day simple moving average of $29.31 and a 200 day simple moving average of $28.72. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $38.73. The stock has a market cap of $14.71 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.12 and a beta of 0.41. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data 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 company 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 firm's revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.55%. Conagra Brands's payout ratio is presently 70.35%.

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.