Alliancebernstein L.P. Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

Alliancebernstein L.P. raised its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,182,882 shares of the company's stock after purchasing an additional 156,161 shares during the quarter. Alliancebernstein L.P. owned 0.25% of Conagra Brands worth $32,825,000 as of its most recent SEC filing.

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

Conagra Brands Stock Up 1.9 %

NYSE:CAG traded up $0.49 during trading hours on Friday, hitting $25.97. The company's stock had a trading volume of 7,994,201 shares, compared to its average volume of 5,128,605. The stock has a market capitalization of $12.40 billion, a P/E ratio of 25.46, a price-to-earnings-growth 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. The stock has a fifty day moving average of $25.71 and a 200-day moving average of $27.14. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24.

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

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is 205.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CAG shares. Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price for the company. The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $33.00 to $26.00 in a report on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Nine investment 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 company's stock. According to MarketBeat.com, Conagra Brands currently has an average 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.