Arrowstreet Capital Limited Partnership Has $10.17 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Arrowstreet Capital Limited Partnership reduced its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 78.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 366,486 shares of the company's stock after selling 1,362,193 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.08% of Conagra Brands worth $10,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co bought a new position in shares of Conagra Brands during the fourth quarter valued at $29,000. Grove Bank & Trust lifted its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands during the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Conagra Brands during the fourth quarter valued at $44,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Down 0.4 %

NYSE CAG traded down $0.10 during trading on Thursday, hitting $25.59. The stock had a trading volume of 712,713 shares, compared to its average volume of 5,095,382. The company has a market capitalization of $12.21 billion, a PE ratio of 25.09, a P/E/G ratio of 1.76 and a beta of 0.27. The company's 50-day moving average price is $25.69 and its two-hundred day moving average price is $27.23. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company's revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, sell-side analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Monday, April 28th. Conagra Brands's payout ratio is presently 205.88%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target for the company. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and cut their price target for the company from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.90.

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.