Sumitomo Mitsui DS Asset Management Company Ltd Sells 702 Shares of Conagra Brands, Inc. (NYSE:CAG)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in Conagra Brands, Inc. (NYSE:CAG) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,027 shares of the company’s stock after selling 702 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Conagra Brands were worth $1,376,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CAG. CWM LLC raised its holdings in shares of Conagra Brands by 18.7% in the 3rd quarter. CWM LLC now owns 19,395 shares of the company’s stock worth $532,000 after purchasing an additional 3,053 shares during the period. Ronald Blue Trust Inc. raised its holdings in shares of Conagra Brands by 134.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $41,000 after purchasing an additional 857 shares during the period. SG Americas Securities LLC raised its holdings in shares of Conagra Brands by 203.5% in the 3rd quarter. SG Americas Securities LLC now owns 100,733 shares of the company’s stock worth $2,762,000 after purchasing an additional 67,543 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Conagra Brands by 8.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 18,546 shares of the company’s stock worth $509,000 after purchasing an additional 1,474 shares during the period. Finally, Private Trust Co. NA lifted its position in shares of Conagra Brands by 5.1% during the third quarter. Private Trust Co. NA now owns 11,373 shares of the company’s stock worth $312,000 after acquiring an additional 557 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.9 %

NYSE CAG opened at $31.56 on Thursday. The stock’s 50-day simple moving average is $29.07 and its two-hundred day simple moving average is $28.63. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $38.73. 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 company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 3.14 and a beta of 0.42.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating 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 business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Research analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.44%. Conagra Brands’s payout ratio is 70.35%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup increased their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Royal Bank of Canada dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Barclays increased their target price on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company increased their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.