Pflug Koory LLC Decreases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Pflug Koory LLC trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,962 shares of the company’s stock after selling 450 shares during the period. Pflug Koory LLC’s holdings in Conagra Brands were worth $54,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in Conagra Brands by 65.8% during the second quarter. Public Sector Pension Investment Board now owns 18,000 shares of the company’s stock worth $512,000 after acquiring an additional 7,143 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Conagra Brands by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 15,841 shares of the company’s stock worth $450,000 after purchasing an additional 562 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Conagra Brands by 60.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 91,558 shares of the company’s stock valued at $2,602,000 after purchasing an additional 34,488 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Conagra Brands in the second quarter valued at approximately $453,000. Finally, AXA S.A. lifted its position in Conagra Brands by 124.7% during the second quarter. AXA S.A. now owns 374,235 shares of the company’s stock worth $10,636,000 after buying an additional 207,687 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

CAG has been the topic of several recent research reports. Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company decreased their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Price Performance

Conagra Brands stock opened at $25.75 on Friday. Conagra Brands, Inc. has a 52-week low of $25.06 and a 52-week high of $33.24. The company’s 50 day moving average is $27.06 and its two-hundred day moving average is $29.15. 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 firm has a market cap of $12.29 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. On average, research analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.44%. Conagra Brands’s dividend payout ratio (DPR) is currently 137.26%.

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.