Victory Capital Management Inc. Trims Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Victory Capital Management Inc. trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 839,793 shares of the company's stock after selling 213,181 shares during the quarter. Victory Capital Management Inc. owned 0.18% of Conagra Brands worth $24,068,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company's stock valued at $388,580,000 after purchasing an additional 1,737,380 shares during the last quarter. Invesco Ltd. increased its position in shares of 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. Federated Hermes Inc. increased its position in shares of Conagra Brands by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company's stock valued at $241,517,000 after purchasing an additional 1,330,249 shares during the last quarter. Northern Trust Corp increased its position in shares of Conagra Brands by 3.8% during the 3rd quarter. Northern Trust Corp now owns 6,002,366 shares of the company's stock valued at $164,585,000 after purchasing an additional 220,024 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Conagra Brands by 75.7% during the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company's stock valued at $102,792,000 after purchasing an additional 1,614,986 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

CAG traded down $0.05 during midday trading on Thursday, reaching $30.78. The company had a trading volume of 1,960,250 shares, compared to its average volume of 4,980,254. 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 business has a 50-day moving average of $29.65 and a two-hundred day moving average of $28.87. The company has a market cap of $14.71 billion, a P/E ratio of 15.49, a P/E/G ratio of 3.07 and a beta of 0.38. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $37.93.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The business's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have commented on CAG. Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, April 5th. Barclays lifted their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a "hold" rating in a research note on Friday, April 5th. Finally, Citigroup lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $33.14.

Conagra Brands Company 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.