Resona Asset Management Co. Ltd. Acquires New Shares in Conagra Brands, Inc. (NYSE:CAG)

Resona Asset Management Co. Ltd. purchased a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 159,706 shares of the company's stock, valued at approximately $4,430,000.

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co bought a new stake in Conagra Brands in the 4th quarter worth approximately $29,000. Grove Bank & Trust boosted its stake in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands during the fourth quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in Conagra Brands in the fourth quarter worth $44,000. Institutional investors own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Stifel Nicolaus decreased their price objective 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. Morgan Stanley assumed coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective for the company. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and cut their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, 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 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 given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.90.

Conagra Brands Stock Up 0.7 %

CAG traded up $0.19 during midday trading on Monday, reaching $26.17. The company's stock had a trading volume of 659,704 shares, compared to its average volume of 5,116,653. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The stock's 50-day moving average is $25.71 and its 200-day moving average is $27.10. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.76 and a beta of 0.27. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data 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). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced 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 of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.35%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

Conagra Brands 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.