Gamco Investors INC. ET AL Lowers Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Gamco Investors INC. ET AL lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,225 shares of the company’s stock after selling 950 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Conagra Brands were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CAG. Vanguard Group Inc. grew its holdings in Conagra Brands by 1.5% during the first quarter. Vanguard Group Inc. now owns 54,738,710 shares of the company’s stock valued at $1,837,578,000 after purchasing an additional 786,816 shares during the period. BlackRock Inc. increased its holdings in Conagra Brands by 2.2% in the 2nd quarter. BlackRock Inc. now owns 44,038,412 shares of the company’s stock worth $1,484,975,000 after acquiring an additional 931,636 shares in the last quarter. State Street Corp increased its holdings in Conagra Brands by 12.8% in the 1st quarter. State Street Corp now owns 23,556,766 shares of the company’s stock worth $790,801,000 after acquiring an additional 2,671,720 shares in the last quarter. Geode Capital Management LLC raised its stake in Conagra Brands by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 10,075,462 shares of the company’s stock worth $338,855,000 after acquiring an additional 225,906 shares during the period. Finally, LSV Asset Management lifted its holdings in Conagra Brands by 5.8% during the second quarter. LSV Asset Management now owns 8,803,761 shares of the company’s stock valued at $296,863,000 after purchasing an additional 480,432 shares in the last quarter. Institutional investors own 84.27% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of several recent analyst reports. Evercore ISI downgraded shares of Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price objective on the stock. in a research report on Monday, December 11th. Royal Bank of Canada decreased their price target on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 3rd. Citigroup started coverage on Conagra Brands in a research note on Thursday, February 1st. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company started coverage on Conagra Brands in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $31.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.87.

Read Our Latest Stock Analysis on CAG

Conagra Brands Stock Down 2.5 %

Shares of CAG opened at $27.40 on Friday. The business’s 50 day simple moving average is $29.01 and its 200-day simple moving average is $28.93. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $38.94. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.91 and a quick ratio of 0.31. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 2.99 and a beta of 0.44.

Conagra Brands (NYSE:CAGGet Free Report) last released its quarterly earnings results on Thursday, January 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Conagra Brands had a net margin of 8.09% and a return on equity of 14.78%. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Conagra Brands’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Tuesday, January 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 29th. This represents a $1.40 annualized dividend and a yield of 5.11%. Conagra Brands’s payout ratio is currently 67.96%.

Conagra Brands Profile

(Free Report)

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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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