Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,991,020 shares of the company’s stock after selling 399,695 shares during the quarter. Vanguard Group Inc. owned 11.92% of Conagra Brands worth $1,689,214,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. M&G Plc acquired a new stake in Conagra Brands in the 1st quarter valued at about $7,429,000. Orion Portfolio Solutions LLC boosted its position in Conagra Brands by 11.9% during the first quarter. Orion Portfolio Solutions LLC now owns 144,427 shares of the company’s stock valued at $4,281,000 after purchasing an additional 15,351 shares during the last quarter. Blair William & Co. IL raised its position in Conagra Brands by 11.2% during the first quarter. Blair William & Co. IL now owns 227,777 shares of the company’s stock valued at $6,751,000 after acquiring an additional 22,980 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Conagra Brands by 8.8% in the first quarter. Kingsview Wealth Management LLC now owns 8,589 shares of the company’s stock worth $255,000 after purchasing an additional 695 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in Conagra Brands by 2.8% during the first quarter. HBK Sorce Advisory LLC now owns 34,782 shares of the company’s stock worth $1,031,000 after purchasing an additional 963 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CAG shares. Barclays decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Citigroup cut their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, Evercore ISI reduced their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.18.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.05 during mid-day trading on Monday, reaching $29.68. 855,766 shares of the stock were exchanged, compared to its average volume of 4,716,370. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.55. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.32. The firm has a 50-day simple moving average of $29.33 and a 200 day simple moving average of $29.24. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the business earned $0.62 EPS. Conagra Brands’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.72%. The ex-dividend date is Thursday, August 1st. Conagra Brands’s payout ratio is presently 191.78%.

Insiders Place Their Bets

In other news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

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.