Point72 Asset Management L.P. Invests $1.48 Million in Conagra Brands, Inc. (NYSE:CAG)

Point72 Asset Management L.P. acquired a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 52,152 shares of the company's stock, valued at approximately $1,482,000.

A number of other institutional investors have also made changes to their positions in CAG. Federated Hermes Inc. increased its stake in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock valued at $313,004,000 after acquiring an additional 1,871,238 shares during the period. Dimensional Fund Advisors LP increased its stake in Conagra Brands by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company's stock valued at $122,602,000 after acquiring an additional 633,794 shares during the period. Squarepoint Ops LLC increased its stake in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company's stock valued at $72,048,000 after acquiring an additional 1,513,726 shares during the period. Marshall Wace LLP increased its stake in Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company's stock valued at $68,400,000 after acquiring an additional 2,242,186 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Conagra Brands by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company's stock valued at $65,209,000 after acquiring an additional 78,487 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays decreased their price objective on Conagra Brands from $34.00 to $33.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Citigroup decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, June 28th. Bank of America decreased their price objective on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday. Finally, Stifel Nicolaus decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $31.00.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company's stock, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by insiders.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.16 during midday trading on Friday, reaching $29.52. The company had a trading volume of 5,340,428 shares, compared to its average volume of 4,800,442. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $31.29 and a 200 day simple moving average of $30.26. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $33.24. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands's dividend payout ratio is 191.78%.

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.