Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 788,149 shares of the company's stock after purchasing an additional 60,255 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of Conagra Brands worth $21,792,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands in the fourth quarter worth about $28,000. Riverview Trust Co purchased a new stake in Conagra Brands in the 4th quarter worth approximately $29,000. Grove Bank & Trust grew its stake in shares of 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 purchasing an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands during the 4th quarter valued at approximately $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

NYSE CAG traded up $0.36 during trading hours on Thursday, hitting $26.74. 6,417,409 shares of the company's stock traded hands, compared to its average volume of 5,088,751. The company has a market capitalization of $12.76 billion, a PE ratio of 26.22, a PEG ratio of 1.76 and a beta of 0.18. 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 52-week low of $23.06 and a 52-week high of $33.24. The firm's 50-day moving average is $25.69 and its 200-day moving average is $27.52.

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Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly 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). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.69 earnings per share. Equities 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. Investors of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. Conagra Brands's dividend payout ratio is currently 137.25%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAG. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company lowered their price target on 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. Finally, The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Conagra Brands has an average rating of "Hold" and an average price target of $28.20.

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.