Guggenheim Capital LLC Sells 32,168 Shares of Conagra Brands, Inc. (NYSE:CAG)

Guggenheim Capital LLC cut its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,675 shares of the company's stock after selling 32,168 shares during the period. Guggenheim Capital LLC's holdings in Conagra Brands were worth $4,792,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts recently commented on CAG shares. JPMorgan Chase & Co. cut their price objective on shares of 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 downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and decreased their target price for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Morgan Stanley began 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. Barclays upped their price objective on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Finally, Wells Fargo & Company dropped 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. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.90.

Conagra Brands Stock Performance

CAG traded up $0.06 on Monday, reaching $25.39. The company had a trading volume of 3,923,948 shares, compared to its average volume of 5,127,404. The company's fifty day moving average is $25.78 and its 200 day moving average is $26.87. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The stock has a market cap of $12.12 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.76 and a beta of 0.27. 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 earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) 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 business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the firm posted $0.69 EPS. The company's revenue was down 6.3% compared to the same quarter last year. As a group, analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend 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.