Ieq Capital LLC Trims Position in Conagra Brands, Inc. (NYSE:CAG)

Ieq Capital LLC lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,969 shares of the company’s stock after selling 7,520 shares during the period. Ieq Capital LLC’s holdings in Conagra Brands were worth $1,026,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CAG. State Street Corp increased its stake in shares of Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after acquiring an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB grew its holdings in Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares during the period. Geode Capital Management LLC increased its position in Conagra Brands by 1.7% during the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares during the last quarter. Pacer Advisors Inc. raised its stake in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after purchasing an additional 122,590 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

CAG stock opened at $25.83 on Tuesday. The stock’s 50 day moving average is $26.11 and its two-hundred day moving average is $28.49. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a market capitalization of $12.33 billion, a PE ratio of 25.32, a P/E/G ratio of 1.76 and a beta of 0.28. 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 (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. Analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.42%. Conagra Brands’s payout ratio is 137.25%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CAG shares. 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 Friday, December 20th. Barclays dropped their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Monday. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Eight investment 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 stock. According to MarketBeat, Conagra Brands has an average rating of “Hold” and an average price target of $28.67.

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.