BI Asset Management Fondsmaeglerselskab A S Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 20,717 shares of the company's stock after selling 13,342 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Conagra Brands were worth $575,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Conagra Brands by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after buying an additional 1,132,839 shares during the last quarter. Nordea Investment Management AB lifted its position in 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Conagra Brands by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after purchasing an additional 231,477 shares during the last quarter. Invesco Ltd. increased its stake in shares of Conagra Brands by 18.5% in the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after buying an additional 1,745,319 shares during the period. Finally, Norges Bank bought a new stake in Conagra Brands during the 4th quarter valued at $168,877,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

CAG has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus cut their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Barclays upped their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Finally, Wells Fargo & Company reduced their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $27.90.

Conagra Brands Stock Down 1.9 %

CAG traded down $0.48 during midday trading on Friday, reaching $24.44. The company's stock had a trading volume of 6,447,148 shares, compared to its average volume of 5,131,012. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The stock's 50-day moving average is $25.79 and its 200-day moving average is $26.77. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.76 and a beta of 0.27. 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 (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.73%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

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.