IFM Investors Pty Ltd Sells 13,616 Shares of Conagra Brands, Inc. (NYSE:CAG)

IFM Investors Pty Ltd lessened its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 12.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,665 shares of the company’s stock after selling 13,616 shares during the quarter. IFM Investors Pty Ltd’s holdings in Conagra Brands were worth $2,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CAG. American Century Companies Inc. boosted its stake in Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after buying an additional 1,737,380 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after purchasing an additional 1,330,249 shares during the last quarter. Northern Trust Corp increased its position in shares of Conagra Brands by 3.8% during the 3rd quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock worth $164,585,000 after purchasing an additional 220,024 shares in the last quarter. Finally, Norges Bank bought a new position in Conagra Brands during the 4th quarter valued at about $140,473,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Down 0.6 %

CAG stock traded down $0.19 during midday trading on Friday, reaching $31.08. The company’s stock had a trading volume of 3,322,417 shares, compared to its average volume of 5,524,899. The business’s 50-day simple moving average is $29.23 and its 200-day simple moving average is $28.67. The stock has a market cap of $14.86 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.42. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $38.73. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

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

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

Analysts Set New Price Targets

CAG has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Citigroup boosted their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Barclays raised their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Royal Bank of Canada reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Finally, Stifel Nicolaus raised their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.14.

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.