O Shaughnessy Asset Management LLC Decreases Stake in Conagra Brands, Inc. (NYSE:CAG)

O Shaughnessy Asset Management LLC trimmed its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 46.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,679 shares of the company's stock after selling 17,269 shares during the period. O Shaughnessy Asset Management LLC's holdings in Conagra Brands were worth $546,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CAG. Vanguard Group Inc. grew its holdings in Conagra Brands by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after buying an additional 1,132,839 shares in the last quarter. Nordea Investment Management AB grew its stake in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after acquiring an additional 618,096 shares in the last quarter. Geode Capital Management LLC increased its holdings in Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company's stock valued at $373,180,000 after acquiring an additional 196,100 shares during the last quarter. Norges Bank purchased a new stake in Conagra Brands in the 4th quarter worth $168,877,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Conagra Brands by 13.3% during the 4th quarter. Bank of New York Mellon Corp now owns 5,462,414 shares of the company's stock valued at $151,582,000 after purchasing an additional 642,806 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG traded down $0.29 during trading on Tuesday, hitting $25.91. The company had a trading volume of 540,745 shares, compared to its average volume of 5,114,357. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. The stock has a fifty day simple moving average of $25.73 and a two-hundred day simple moving average of $27.06. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. 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 announced 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 net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.40%. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAG. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their target price for the company from $33.00 to $26.00 in a report on Monday, February 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Morgan Stanley started coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price on the stock. Stifel Nicolaus dropped their price target on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Finally, Bank of America decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Conagra Brands has an average rating of "Hold" and an average price target of $27.90.

About Conagra Brands

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.