Cullen Capital Management LLC Has $49.04 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Cullen Capital Management LLC lessened its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,767,076 shares of the company's stock after selling 200,238 shares during the period. Cullen Capital Management LLC owned 0.37% of Conagra Brands worth $49,036,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CAG. FMR LLC raised its holdings in Conagra Brands by 4.8% during the third quarter. FMR LLC now owns 1,478,380 shares of the company's stock worth $48,077,000 after purchasing an additional 67,079 shares in the last quarter. Townsquare Capital LLC bought a new position in Conagra Brands during the third quarter valued at about $283,000. Public Sector Pension Investment Board raised its position in Conagra Brands by 16.7% in the third quarter. Public Sector Pension Investment Board now owns 21,000 shares of the company's stock worth $683,000 after acquiring an additional 3,000 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Conagra Brands by 386.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 17,073 shares of the company's stock valued at $555,000 after acquiring an additional 13,560 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its position in shares of Conagra Brands by 49.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 15,938 shares of the company's stock valued at $518,000 after purchasing an additional 5,300 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CAG shares. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Barclays boosted 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. Nine 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $27.90.

Conagra Brands Stock Down 1.5 %

NYSE:CAG traded down $0.38 during mid-day trading on Thursday, reaching $25.31. The stock had a trading volume of 2,069,762 shares, compared to its average volume of 5,100,639. The stock has a market cap of $12.08 billion, a P/E ratio of 24.81, a PEG ratio of 1.76 and a beta of 0.27. The business's 50 day moving average is $25.69 and its 200 day moving average is $27.23. 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 fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be paid 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 5.53%. Conagra Brands's dividend payout ratio 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.