Victory Capital Management Inc. Has $26.46 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Victory Capital Management Inc. cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 813,493 shares of the company's stock after selling 76,824 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of Conagra Brands worth $26,455,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company's stock worth $68,400,000 after acquiring an additional 2,242,186 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. Squarepoint Ops LLC lifted its position in shares of Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company's stock worth $72,048,000 after purchasing an additional 1,513,726 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Conagra Brands by 2,552.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company's stock valued at $41,943,000 after purchasing an additional 1,241,121 shares in the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in Conagra Brands by 523.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company's stock valued at $41,117,000 after buying an additional 1,214,859 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group started coverage on Conagra Brands in a report on Monday, August 12th. They set a "buy" rating and a $36.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Finally, Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and a consensus price target of $31.63.

Conagra Brands Stock Performance

NYSE CAG traded down $0.09 during midday trading on Monday, hitting $26.61. The company had a trading volume of 5,860,935 shares, compared to its average volume of 4,741,207. The firm has a fifty day simple moving average of $30.07 and a two-hundred day simple moving average of $30.00. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.75 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company earned $0.66 EPS. The company's revenue was down 3.8% on a year-over-year basis. Equities analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.26%. Conagra Brands's dividend payout ratio is currently 135.92%.

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.