Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 508,098 shares of the company's stock after selling 19,649 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Conagra Brands worth $14,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CoreFirst Bank & Trust purchased a new stake in Conagra Brands during the fourth quarter worth about $73,000. Prudential Financial Inc. grew its holdings in shares of Conagra Brands by 28.5% in the 4th quarter. Prudential Financial Inc. now owns 1,674,848 shares of the company's stock worth $46,477,000 after acquiring an additional 371,481 shares during the period. Vanguard Group Inc. increased its stake in Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares in the last quarter. Community Bank N.A. raised its holdings in Conagra Brands by 1.6% during the fourth quarter. Community Bank N.A. now owns 50,232 shares of the company's stock worth $1,394,000 after purchasing an additional 795 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Conagra Brands during the fourth quarter worth $5,034,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CAG shares. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Bank of America dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, Morgan Stanley assumed 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 on the stock. 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $28.20.

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Conagra Brands Stock Down 1.0 %

Shares of NYSE CAG traded down $0.26 on Wednesday, hitting $26.34. The company had a trading volume of 1,926,196 shares, compared to its average volume of 5,061,039. The firm has a market capitalization of $12.57 billion, a P/E ratio of 25.84, a PEG ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The business has a 50 day moving average of $25.67 and a two-hundred day moving average of $27.53.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.31%. Conagra Brands's dividend payout ratio (DPR) is 137.25%.

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.