Meyer Handelman Co. lessened its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 36.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,476 shares of the company's stock after selling 189,700 shares during the quarter. Meyer Handelman Co. owned approximately 0.07% of Conagra Brands worth $9,226,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands in the 4th quarter valued at about $28,000. Ignite Planners LLC boosted its holdings in Conagra Brands by 7.1% in the fourth quarter. Ignite Planners LLC now owns 17,690 shares of the company's stock valued at $489,000 after acquiring an additional 1,173 shares during the last quarter. Professional Financial Advisors LLC boosted its holdings in Conagra Brands by 6.1% in the fourth quarter. Professional Financial Advisors LLC now owns 43,558 shares of the company's stock valued at $1,209,000 after acquiring an additional 2,488 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in Conagra Brands by 9.2% during the 4th quarter. Miracle Mile Advisors LLC now owns 42,952 shares of the company's stock worth $1,192,000 after purchasing an additional 3,628 shares during the last quarter. Finally, Wedmont Private Capital bought a new position in Conagra Brands during the 4th quarter worth approximately $702,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CAG has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, December 20th. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Conagra Brands presently has a consensus rating of "Hold" and an average target price of $30.56.
Get Our Latest Analysis on CAG
Conagra Brands Stock Down 1.8 %
Shares of Conagra Brands stock traded down $0.47 during trading hours on Wednesday, reaching $25.58. The company's stock had a trading volume of 3,217,855 shares, compared to its average volume of 4,770,179. The company has a market capitalization of $12.21 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.91 and a beta of 0.29. The stock's fifty day simple moving average is $27.42 and its two-hundred day simple moving average is $29.31. Conagra Brands, Inc. has a one year low of $25.43 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.
Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.15 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. On average, research analysts forecast that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.
Conagra Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.47%. The ex-dividend date is Monday, January 27th. Conagra Brands's dividend payout ratio (DPR) is presently 137.25%.
About Conagra Brands
(
Free Report)
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.
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