JPMorgan Chase & Co. Decreases Holdings in Conagra Brands, Inc. (NYSE:CAG)

JPMorgan Chase & Co. trimmed its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 28.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,298,122 shares of the company's stock after selling 1,292,327 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.69% of Conagra Brands worth $107,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Chilton Capital Management LLC purchased a new position in Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its position in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock valued at $30,000 after buying an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands during the 3rd quarter worth $47,000. Kennebec Savings Bank bought a new position in shares of Conagra Brands during the 3rd quarter worth $59,000. Finally, Quarry LP increased its holdings in Conagra Brands by 229.7% in the 3rd quarter. Quarry LP now owns 1,820 shares of the company's stock worth $59,000 after acquiring an additional 1,268 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded down $0.08 during trading on Thursday, hitting $27.67. The stock had a trading volume of 5,543,953 shares, compared to its average volume of 4,805,991. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 2.91 and a beta of 0.31. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24. The business's 50-day moving average is $27.84 and its 200 day moving average is $29.42. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.06%. Conagra Brands's dividend payout ratio is presently 137.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays dropped their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. 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. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Citigroup reduced their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, December 11th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and an average target price of $30.75.

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.