Mitsubishi UFJ Asset Management UK Ltd. cut its holdings in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the company’s stock after selling 10,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Conagra Brands were worth $416,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Conagra Brands by 106.4% in the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after purchasing an additional 3,133,200 shares during the period. Marshall Wace LLP boosted its holdings in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after purchasing an additional 2,242,186 shares during the period. Holocene Advisors LP bought a new position in shares of Conagra Brands during the 3rd quarter worth about $65,932,000. Finally, State Street Corp increased its holdings in shares of Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on CAG shares. JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.56.
Conagra Brands Stock Down 0.5 %
Shares of NYSE:CAG opened at $25.70 on Wednesday. Conagra Brands, Inc. has a 12 month low of $25.35 and a 12 month high of $33.24. The firm has a market cap of $12.27 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.75 and a beta of 0.29. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $27.17 and its two-hundred day moving average price is $29.22.
Conagra Brands (NYSE:CAG – Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business posted $0.71 earnings per share. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.
Conagra Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.45%. Conagra Brands’s payout ratio is 137.26%.
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.
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