Contravisory Investment Management Inc. cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,560 shares of the company’s stock after selling 1,095 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Conagra Brands were worth $310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Conagra Brands by 1.4% in the third quarter. BlackRock Inc. now owns 35,701,452 shares of the company’s stock worth $1,274,900,000 after purchasing an additional 503,608 shares in the last quarter. Coho Partners Ltd. increased its stake in shares of Conagra Brands by 0.8% in the third quarter. Coho Partners Ltd. now owns 4,305,841 shares of the company’s stock worth $153,762,000 after purchasing an additional 33,597 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Conagra Brands by 1.7% during the second quarter. Nuveen Asset Management LLC now owns 3,298,579 shares of the company’s stock valued at $116,011,000 after acquiring an additional 53,889 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Conagra Brands by 70.2% during the third quarter. JPMorgan Chase & Co. now owns 2,895,846 shares of the company’s stock valued at $102,743,000 after acquiring an additional 1,194,470 shares in the last quarter. Finally, LSV Asset Management grew its stake in Conagra Brands by 11.2% during the third quarter. LSV Asset Management now owns 2,839,358 shares of the company’s stock valued at $101,393,000 after acquiring an additional 286,543 shares in the last quarter. 82.11% of the stock is owned by hedge funds and other institutional investors.

NYSE:CAG opened at $33.38 on Thursday. Conagra Brands, Inc. has a 52 week low of $22.83 and a 52 week high of $39.34. The company has a quick ratio of 0.35, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $16.31 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. The stock’s 50-day moving average price is $35.59 and its 200-day moving average price is $36.29.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, January 6th. The company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.07. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 3rd. Shareholders of record on Friday, January 29th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, January 28th. Conagra Brands’s payout ratio is currently 48.25%.

CAG has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Conagra Brands from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, October 2nd. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 price objective for the company in a research note on Monday. ValuEngine cut shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Monday, November 2nd. Credit Suisse Group cut shares of Conagra Brands from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $38.00 to $34.00 in a research note on Tuesday, January 5th. Finally, Jefferies Financial Group started coverage on shares of Conagra Brands in a research note on Friday, January 8th. They issued a “buy” rating and a $41.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $35.75.

In related news, Director Richard H. Lenny bought 10,000 shares of the company’s stock in a transaction on Friday, January 8th. The stock was bought at an average cost of $33.70 per share, for a total transaction of $337,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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