Federated Hermes Inc. Acquires 17,827 Shares of Conagra Brands, Inc. (NYSE:CAG)

Federated Hermes Inc. raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 36.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,435 shares of the company's stock after purchasing an additional 17,827 shares during the period. Federated Hermes Inc.'s holdings in Conagra Brands were worth $1,844,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter valued at $28,000. Riverview Trust Co bought a new position in Conagra Brands during the 4th quarter valued at about $29,000. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands during the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Conagra Brands in the fourth quarter worth approximately $44,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Barclays raised their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. 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 target price for the company. Finally, Bank of America dropped 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 Friday, December 20th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.90.

Conagra Brands Price Performance

CAG traded up $0.46 on Thursday, hitting $25.36. 2,696,835 shares of the company's stock traded hands, compared to its average volume of 5,113,382. The company's 50 day simple moving average is $25.74 and its 200-day simple moving average is $27.03. 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, Inc. has a one year low of $23.06 and a one year high of $33.24. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company's quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.52%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

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.