Candriam S.C.A. Has $2.85 Million Stake in Conagra Brands, Inc. (NYSE:CAG)

Candriam S.C.A. lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 20.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,738 shares of the company’s stock after selling 26,114 shares during the period. Candriam S.C.A.’s holdings in Conagra Brands were worth $2,851,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CAG. Van ECK Associates Corp lifted its position in shares of Conagra Brands by 49.4% during the 3rd quarter. Van ECK Associates Corp now owns 22,669 shares of the company’s stock valued at $737,000 after acquiring an additional 7,500 shares during the period. Principal Financial Group Inc. lifted its position in shares of Conagra Brands by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock valued at $18,660,000 after acquiring an additional 3,597 shares during the period. AIA Group Ltd lifted its position in shares of Conagra Brands by 19.6% during the 3rd quarter. AIA Group Ltd now owns 13,856 shares of the company’s stock valued at $451,000 after acquiring an additional 2,275 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Conagra Brands during the 3rd quarter valued at $202,000. Finally, Bridges Investment Management Inc. lifted its position in shares of Conagra Brands by 7.0% during the 3rd quarter. Bridges Investment Management Inc. now owns 22,058 shares of the company’s stock valued at $717,000 after acquiring an additional 1,448 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CAG shares. Bank of America dropped their target price 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. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Citigroup decreased 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. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $28.33.

Conagra Brands Stock Performance

NYSE CAG opened at $27.25 on Monday. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.76 and a beta of 0.18. The company has a fifty day moving average price of $25.82 and a 200-day moving average price of $28.19.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Monday, January 27th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.14%. Conagra Brands’s payout ratio is currently 137.25%.

Conagra Brands Company 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.