Miller Howard Investments Inc. NY Has $24.06 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Miller Howard Investments Inc. NY cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 39.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 867,149 shares of the company’s stock after selling 566,015 shares during the period. Miller Howard Investments Inc. NY’s holdings in Conagra Brands were worth $24,063,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CAG. Courier Capital LLC raised its stake in Conagra Brands by 1.3% during the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after acquiring an additional 355 shares in the last quarter. CWM LLC lifted its holdings in Conagra Brands by 0.4% during the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after purchasing an additional 359 shares during the last quarter. Empirical Finance LLC boosted its position in Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after buying an additional 362 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after buying an additional 376 shares during the last quarter. Finally, Bridgewater Advisors Inc. grew its stake in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after buying an additional 376 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Bank of America reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Citigroup reduced 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 Wednesday, December 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Stock Down 0.8 %

Shares of NYSE:CAG opened at $24.82 on Friday. The company has a 50 day moving average of $26.73 and a 200-day moving average of $28.89. Conagra Brands, Inc. has a one year low of $24.64 and a one year high of $33.24. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.70 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

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

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.64%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Conagra Brands 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.