ExodusPoint Capital Management LP Buys New Shares in Conagra Brands, Inc. (NYSE:CAG)

ExodusPoint Capital Management LP acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 451,883 shares of the company's stock, valued at approximately $12,540,000. ExodusPoint Capital Management LP owned about 0.09% of Conagra Brands as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock worth $1,631,671,000 after acquiring an additional 1,132,839 shares during the last quarter. State Street Corp raised its position in Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company's stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the period. Nordea Investment Management AB lifted its stake in Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after purchasing an additional 618,096 shares during the last quarter. Geode Capital Management LLC boosted its position in Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock valued at $325,096,000 after buying an additional 231,477 shares during the period. Finally, Norges Bank bought a new position in shares of Conagra Brands during the fourth quarter valued at about $168,877,000. 83.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and reduced their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Barclays raised their price target on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.90.

Conagra Brands Price Performance

Shares of NYSE CAG traded up $0.74 during midday trading on Wednesday, reaching $25.73. 6,987,216 shares of the stock traded hands, compared to its average volume of 5,112,202. The company's 50 day moving average is $25.69 and its 200 day moving average is $27.23. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock has a market capitalization of $12.28 billion, a PE ratio of 25.23, a P/E/G ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

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. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 5.44%. Conagra Brands's payout ratio is currently 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.