Foster & Motley Inc. Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Foster & Motley Inc. decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,245 shares of the company’s stock after selling 11,066 shares during the period. Foster & Motley Inc.’s holdings in Conagra Brands were worth $1,927,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Conagra Brands by 37.1% in the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after purchasing an additional 2,619,372 shares during the period. American Century Companies Inc. grew its position in shares of Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after purchasing an additional 1,737,380 shares during the period. Barclays PLC grew its position in shares of Conagra Brands by 75.7% in the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after purchasing an additional 1,614,986 shares during the period. Federated Hermes Inc. grew its position in shares of Conagra Brands by 18.7% in the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after purchasing an additional 1,330,249 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of Conagra Brands by 401.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock valued at $41,663,000 after purchasing an additional 1,216,389 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.5 %

Shares of CAG opened at $31.27 on Tuesday. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $38.73. The stock has a market cap of $14.95 billion, a PE ratio of 15.63, a P/E/G ratio of 3.07 and a beta of 0.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The stock’s 50-day moving average is $28.90 and its two-hundred day moving average is $28.57.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. Conagra Brands’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. Equities analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.48%. Conagra Brands’s dividend payout ratio is presently 70.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Stifel Nicolaus lifted their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Royal Bank of Canada reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 3rd. Finally, Citigroup lifted their target price on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.14.

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.