Bank of New York Mellon Corp Purchases 642,806 Shares of Conagra Brands, Inc. (NYSE:CAG)

Bank of New York Mellon Corp boosted its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,462,414 shares of the company's stock after acquiring an additional 642,806 shares during the period. Bank of New York Mellon Corp owned about 1.14% of Conagra Brands worth $151,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company's stock worth $796,229,000 after acquiring an additional 1,691,945 shares during the period. Nordea Investment Management AB increased its stake in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after purchasing an additional 618,096 shares during the period. Geode Capital Management LLC increased its position in Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company's stock valued at $373,180,000 after acquiring an additional 196,100 shares during the period. Pacer Advisors Inc. raised its stake in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Conagra Brands by 2.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company's stock valued at $204,571,000 after buying an additional 122,590 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAG. Stifel Nicolaus decreased their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong 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 $28.67.

Conagra Brands Stock Down 1.3 %

NYSE:CAG traded down $0.34 during trading hours on Tuesday, hitting $25.71. 3,010,053 shares of the stock traded hands, compared to its average volume of 5,698,714. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.76 and a beta of 0.28. The firm has a 50 day moving average price of $25.95 and a 200 day moving average price of $28.33. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Monday, January 27th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Monday, January 27th. Conagra Brands's dividend payout ratio (DPR) is presently 137.25%.

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.