First Trust Advisors LP Decreases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

First Trust Advisors LP trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) by 71.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 944,079 shares of the company’s stock after selling 2,306,963 shares during the quarter. First Trust Advisors LP owned 0.20% of Conagra Brands worth $27,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after purchasing an additional 1,737,380 shares during the period. Invesco Ltd. boosted its position in shares of Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after buying an additional 2,619,372 shares during the period. Federated Hermes Inc. grew its stake in shares of Conagra Brands by 18.7% during the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after buying an additional 1,330,249 shares during the last quarter. Northern Trust Corp raised its holdings 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 worth $164,585,000 after buying an additional 220,024 shares during the period. Finally, Norges Bank bought a new stake in shares of Conagra Brands during the 4th quarter worth approximately $140,473,000. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CAG shares. Stifel Nicolaus increased their target price on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Citigroup upped their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Barclays lifted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $33.14.

View Our Latest Stock Analysis on CAG

Insider Buying and Selling

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is owned by company insiders.

Conagra Brands Trading Down 1.4 %

Shares of NYSE CAG opened at $29.30 on Tuesday. The business has a fifty day moving average price of $30.43 and a 200 day moving average price of $29.28. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $35.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The stock has a market capitalization of $14.01 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 2.91 and a beta of 0.32.

Conagra Brands (NYSE:CAGGet Free Report) 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. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. Equities research analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were given a $0.35 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.78%. Conagra Brands’s payout ratio is 70.35%.

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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