Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Conagra Brands $CAG

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Conagra Brands (NYSE:CAG) by 10.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 569,211 shares of the company’s stock after acquiring an additional 54,692 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Conagra Brands were worth $9,847,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sutton Place Investors LLC lifted its holdings in Conagra Brands by 1.9% during the third quarter. Sutton Place Investors LLC now owns 31,196 shares of the company’s stock valued at $571,000 after purchasing an additional 585 shares in the last quarter. International Private Wealth Advisors LLC increased its stake in shares of Conagra Brands by 4.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock worth $228,000 after purchasing an additional 609 shares in the last quarter. Blair William & Co. IL raised its position in shares of Conagra Brands by 0.5% during the 3rd quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock worth $2,494,000 after purchasing an additional 633 shares during the last quarter. Jackson Hole Capital Partners LLC raised its position in shares of Conagra Brands by 4.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock worth $311,000 after purchasing an additional 701 shares during the last quarter. Finally, Probity Advisors Inc. lifted its stake in Conagra Brands by 2.5% in the 3rd quarter. Probity Advisors Inc. now owns 29,231 shares of the company’s stock valued at $535,000 after buying an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard H. Lenny acquired 25,000 shares of the stock in a transaction on Tuesday, April 14th. The shares were bought at an average price of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. This represents a 12.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Mulligan bought 17,500 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was bought at an average price of $14.31 per share, with a total value of $250,425.00. Following the completion of the acquisition, the director owned 20,728 shares in the company, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CAG shares. Stifel Nicolaus lowered their price objective on Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 21st. Wells Fargo & Company decreased their target price on Conagra Brands from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Thursday, April 2nd. Sanford C. Bernstein lowered their price target on Conagra Brands from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Thursday, April 2nd. JPMorgan Chase & Co. dropped their price target on Conagra Brands from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Finally, Royal Bank Of Canada reduced their price objective on Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $15.80.

Conagra Brands Stock Down 0.0%

Shares of NYSE CAG opened at $14.13 on Monday. The stock has a market cap of $6.76 billion and a PE ratio of -141.25. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. Conagra Brands has a 12-month low of $13.60 and a 12-month high of $23.47. The company has a 50-day moving average of $15.87 and a 200 day moving average of $17.10.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. As a group, sell-side analysts predict that Conagra Brands will post 1.7 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a yield of 9.9%. Conagra Brands’s dividend payout ratio (DPR) is presently -1,400.00%.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.