Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,680 shares of the company's stock after acquiring an additional 60,677 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.12% of Conagra Brands worth $15,886,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands in the 4th quarter valued at about $28,000. Riverview Trust Co acquired a new position in Conagra Brands in the 4th quarter valued at $29,000. Grove Bank & Trust boosted 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 worth $31,000 after purchasing an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands in the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of CAG stock traded down $0.48 on Friday, hitting $24.44. 6,444,547 shares of the stock traded hands, compared to its average volume of 5,120,397. The company's fifty day moving average is $25.78 and its 200 day moving average is $26.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a market capitalization of $11.67 billion, a PE ratio of 23.96, a PEG ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $0.69 EPS. The business's quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio is currently 205.88%.

Analyst Upgrades and Downgrades

CAG has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective for the company. Wells Fargo & Company lowered their price target on 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. JPMorgan Chase & Co. reduced their price objective 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. Finally, Barclays raised their price target on shares of Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.