Conagra Brands, Inc. (NYSE:CAG) Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 31.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,271,518 shares of the company's stock after selling 1,026,604 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.48% of Conagra Brands worth $63,035,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CAG shares. Barclays upped their target price on shares of Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a report on Monday. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Stifel Nicolaus lowered 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. Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. Finally, Morgan Stanley began coverage on shares of Conagra Brands in a report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective on the stock. Nine 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.90.

Conagra Brands Stock Up 3.0 %

NYSE:CAG traded up $0.74 during mid-day trading on Wednesday, hitting $25.73. The company had a trading volume of 6,987,216 shares, compared to its average volume of 5,110,093. The business has a fifty day simple moving average of $25.69 and a 200-day simple moving average of $27.23. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year 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.

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). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. Equities analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share 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. Investors of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.44%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio is currently 205.88%.

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.