Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,745,629 shares of the company's stock after acquiring an additional 231,477 shares during the period. Geode Capital Management LLC owned 2.46% of Conagra Brands worth $325,096,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Bank of America dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research note 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 on the stock in a research note on Thursday, March 6th. Wells Fargo & Company reduced 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. Finally, The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $33.00 to $26.00 in a report on Monday, February 24th. Nine equities research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $27.90.

Conagra Brands Price Performance

CAG stock traded down $0.41 during midday trading on Thursday, reaching $25.28. The stock had a trading volume of 1,337,241 shares, compared to its average volume of 6,210,983. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company's fifty day simple moving average is $25.69 and its 200 day simple moving average is $27.23. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates 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. As a group, sell-side 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. Shareholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.54%. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

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.