Brandywine Global Investment Management LLC Raises Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Brandywine Global Investment Management LLC increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,833,831 shares of the company's stock after purchasing an additional 433,276 shares during the period. Brandywine Global Investment Management LLC owned 0.59% of Conagra Brands worth $78,639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the fourth quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in Conagra Brands in the 4th quarter valued at $29,000. Grove Bank & Trust lifted its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands during the 4th quarter worth $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CAG shares. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. Barclays lowered their target price on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. 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. Wells Fargo & Company lowered their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, Morgan Stanley began coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $28.20.

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Conagra Brands Trading Up 2.0 %

Shares of NYSE CAG traded up $0.54 during trading on Thursday, reaching $26.92. The stock had a trading volume of 5,677,941 shares, compared to its average volume of 5,086,556. The company has a market cap of $12.85 billion, a P/E ratio of 26.39, a PEG ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The business's 50-day moving average price is $25.69 and its 200-day moving average price is $27.52. 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 posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion during 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 company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.20%. Conagra Brands's dividend payout ratio (DPR) is currently 137.25%.

About Conagra Brands

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.