LSV Asset Management Trims Stock Position in Conagra Brands, Inc. (NYSE:CAG)

LSV Asset Management decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,174,211 shares of the company's stock after selling 57,182 shares during the quarter. LSV Asset Management owned approximately 1.50% of Conagra Brands worth $199,084,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Brookstone Capital Management raised its stake in Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after purchasing an additional 62,187 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Conagra Brands by 41.0% during the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after acquiring an additional 22,790 shares during the last quarter. Nordea Investment Management AB grew its stake in Conagra Brands by 5.3% during 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 in the last quarter. Sound Income Strategies LLC lifted its stake in Conagra Brands by 13.2% in the 4th quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock worth $3,756,000 after purchasing an additional 15,834 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new stake in shares of Conagra Brands in the fourth quarter worth about $558,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CAG shares. JPMorgan Chase & Co. decreased their target price on 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 upped their target price on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. 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 price target for the company. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of "Hold" and an average target price of $27.90.

Conagra Brands Stock Performance

CAG traded down $0.57 on Tuesday, reaching $25.62. 1,386,902 shares of the stock were exchanged, compared to its average volume of 5,117,761. The company's 50-day moving average price is $25.73 and its 200 day moving average price is $27.06. The firm has a market capitalization of $12.23 billion, a PE ratio of 25.12, a PEG 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. 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 (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 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 business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Conagra Brands's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company 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 $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 5.46%. Conagra Brands's payout ratio is currently 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.