Conagra Brands, Inc. (NYSE:CAG) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp reduced its holdings in Conagra Brands, Inc. (NYSE:CAG) by 36.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,978 shares of the company’s stock after selling 11,344 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Conagra Brands were worth $554,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands in the fourth quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands in the fourth quarter valued at about $29,000. Grove Bank & Trust boosted its holdings in Conagra Brands by 65.4% during 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 Conagra Brands in the fourth quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $44,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of CAG opened at $22.97 on Monday. Conagra Brands, Inc. has a 1 year low of $22.38 and a 1 year high of $33.24. The company’s 50 day simple moving average is $25.07 and its 200 day simple moving average is $26.10. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last issued its quarterly 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). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the company earned $0.69 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm 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. This represents a $1.40 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Monday, April 28th. Conagra Brands’s payout ratio is 205.88%.

Analysts Set New Price Targets

Several analysts have weighed in on CAG shares. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus lowered 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 note on Wednesday, February 19th. Barclays dropped their target price on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, Morgan Stanley began 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. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $27.50.

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.