Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 22.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,675 shares of the company's stock after selling 42,598 shares during the period. Voya Investment Management LLC's holdings in Conagra Brands were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock worth $1,631,671,000 after purchasing an additional 1,132,839 shares during the period. Nordea Investment Management AB grew its stake in shares of Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after buying an additional 618,096 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock valued at $325,096,000 after purchasing an additional 231,477 shares during the period. Invesco Ltd. grew its stake in Conagra Brands by 18.5% in the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after acquiring an additional 1,745,319 shares in the last quarter. Finally, Norges Bank bought a new position in Conagra Brands in the fourth quarter worth approximately $168,877,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent research reports. Stifel Nicolaus reduced 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 note on Wednesday, February 19th. Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price on the stock. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Wells Fargo & Company decreased 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 research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has an average rating of "Hold" and a consensus price target of $27.90.

Conagra Brands Price Performance

Shares of NYSE:CAG traded down $0.32 during midday trading on Friday, hitting $23.86. The company's stock had a trading volume of 5,309,416 shares, compared to its average volume of 5,147,073. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The company has a market cap of $11.39 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The business's 50 day simple moving average is $25.67 and its 200 day simple moving average is $26.56.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.69 earnings per share. On average, analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 5.87%. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

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.