Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,027 shares of the company’s stock after selling 702 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Conagra Brands were worth $1,376,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after acquiring an additional 1,737,380 shares in the last quarter. Invesco Ltd. raised its stake in shares of Conagra Brands by 37.1% in the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after acquiring an additional 2,619,372 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Conagra Brands by 18.7% in the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after acquiring an additional 1,330,249 shares in the last quarter. Northern Trust Corp raised its stake in shares of Conagra Brands by 3.8% in the third quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock valued at $164,585,000 after acquiring an additional 220,024 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Conagra Brands by 75.7% in the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after acquiring an additional 1,614,986 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE CAG opened at $31.56 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.73. The business’s 50-day moving average price is $29.07 and its 200 day moving average price is $28.63. The firm has a market cap of $15.09 billion, a P/E ratio of 15.86, a P/E/G 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. On average, equities research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be given a $0.35 dividend. 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 currently 70.35%.

Analysts Set New Price Targets

Several equities analysts recently commented on CAG shares. Citigroup increased their target price on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Barclays increased their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus increased their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Finally, 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 report on Wednesday, January 3rd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.14.

About Conagra Brands

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.