Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 70.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,258 shares of the company’s stock after selling 72,600 shares during the period. Readystate Asset Management LP’s holdings in Conagra Brands were worth $984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after acquiring an additional 1,871,238 shares during the last quarter. Pacer Advisors Inc. increased its stake in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after acquiring an additional 122,590 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Conagra Brands by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after purchasing an additional 633,794 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Conagra Brands by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,985 shares of the company’s stock worth $100,909,000 after purchasing an additional 63,738 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CAG shares. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Bank of America reduced their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and an average price target of $31.63.

Conagra Brands Stock Down 1.4 %

Shares of Conagra Brands stock opened at $27.33 on Thursday. The company has a market capitalization of $13.04 billion, a PE ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 0.31. The business has a 50-day moving average of $28.99 and a 200-day moving average of $29.74. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.12%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

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.