Legal & General Group Plc Sells 914,003 Shares of Conagra Brands, Inc. (NYSE:CAG)

Legal & General Group Plc lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,903,745 shares of the company's stock after selling 914,003 shares during the period. Legal & General Group Plc owned 0.61% of Conagra Brands worth $80,579,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Brookstone Capital Management lifted its holdings in Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock worth $11,085,000 after purchasing an additional 62,187 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after buying an additional 22,790 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Conagra Brands by 5.3% in 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 during the period. Sound Income Strategies LLC boosted its position in shares of Conagra Brands by 13.2% in the fourth quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock valued at $3,756,000 after acquiring an additional 15,834 shares during the period. Finally, Machina Capital S.A.S. bought a new stake in Conagra Brands during the 4th quarter worth approximately $558,000. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAG. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company reduced their target price on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Morgan Stanley initiated 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 for the company. Nine equities research 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 stock. According to data from MarketBeat, Conagra Brands has an average rating of "Hold" and an average price target of $27.90.

Conagra Brands Trading Up 1.6 %

Conagra Brands stock traded up $0.41 during mid-day trading on Thursday, hitting $25.31. The company's stock had a trading volume of 1,858,764 shares, compared to its average volume of 5,109,778. The business has a 50 day moving average price of $25.74 and a 200-day moving average price of $27.03. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The stock has a market cap of $12.08 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results 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). 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 analysts' expectations of $2.92 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company's revenue was down 6.3% compared to the same quarter last year. As a group, analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is 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.