LSV Asset Management Sells 211,487 Shares of Conagra Brands, Inc. (NYSE:CAG)

LSV Asset Management decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,270,752 shares of the company’s stock after selling 211,487 shares during the period. LSV Asset Management’s holdings in Conagra Brands were worth $237,040,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CAG. Pacer Advisors Inc. increased its stake in Conagra Brands by 188.3% during the fourth quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after acquiring an additional 100,141 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Conagra Brands by 120.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after purchasing an additional 469,421 shares in the last quarter. Adams Asset Advisors LLC acquired a new position in Conagra Brands in the 4th quarter worth approximately $7,690,000. Assenagon Asset Management S.A. lifted its holdings in Conagra Brands by 368.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock valued at $29,126,000 after acquiring an additional 799,175 shares during the period. Finally, Invesco Ltd. boosted its position in Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAG shares. Citigroup boosted their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company raised their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Barclays increased their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.14.

Conagra Brands Stock Performance

Shares of CAG stock traded down $0.26 on Friday, hitting $30.59. The company’s stock had a trading volume of 4,112,423 shares, compared to its average volume of 5,140,211. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.20. The company has a market capitalization of $14.62 billion, a PE ratio of 15.37, a PEG ratio of 3.07 and a beta of 0.38. The stock’s 50 day moving average is $29.50 and its 200-day moving average is $28.80.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. Equities research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

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.