Johnson Financial Group Inc. Purchases 9,859 Shares of Conagra Brands, Inc. (NYSE:CAG)

Johnson Financial Group Inc. increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 5,188.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,049 shares of the company’s stock after purchasing an additional 9,859 shares during the quarter. Johnson Financial Group Inc.’s holdings in Conagra Brands were worth $264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its holdings in Conagra Brands by 10.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 19,531 shares of the company’s stock worth $542,000 after purchasing an additional 1,824 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Conagra Brands by 8.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 103,033 shares of the company’s stock worth $2,859,000 after purchasing an additional 8,343 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Conagra Brands by 8.8% during the fourth quarter. Hsbc Holdings PLC now owns 1,362,578 shares of the company’s stock worth $37,702,000 after purchasing an additional 110,488 shares during the last quarter. J. Safra Sarasin Holding AG boosted its holdings in Conagra Brands by 6.0% during the fourth quarter. J. Safra Sarasin Holding AG now owns 52,836 shares of the company’s stock worth $1,466,000 after purchasing an additional 3,007 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in Conagra Brands by 10.5% during the fourth quarter. OneDigital Investment Advisors LLC now owns 7,614 shares of the company’s stock worth $211,000 after purchasing an additional 722 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $24.44 on Monday. The firm’s 50 day simple moving average is $25.79 and its 200 day simple moving average is $26.75. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $11.67 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. As a group, analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 5.73%. Conagra Brands’s dividend payout ratio is presently 205.88%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus lowered their price target 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 report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target on the stock. Finally, Barclays boosted their price target on shares of Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.90.

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.