Headlands Technologies LLC Trims Position in Conagra Brands, Inc. (NYSE:CAG)

Headlands Technologies LLC reduced its position in Conagra Brands, Inc. (NYSE:CAG) by 86.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,745 shares of the company’s stock after selling 30,278 shares during the period. Headlands Technologies LLC’s holdings in Conagra Brands were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CAG. Geode Capital Management LLC lifted its position in Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company’s stock worth $325,096,000 after buying an additional 231,477 shares during the period. National Bank of Canada FI increased its stake in shares of Conagra Brands by 15.4% during the 4th quarter. National Bank of Canada FI now owns 233,075 shares of the company’s stock valued at $6,468,000 after acquiring an additional 31,019 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of Conagra Brands by 159.0% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 78,751 shares of the company’s stock worth $2,184,000 after acquiring an additional 48,349 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Conagra Brands by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,182,882 shares of the company’s stock valued at $32,825,000 after purchasing an additional 156,161 shares during the period. Finally, Brandywine Global Investment Management LLC grew its holdings in Conagra Brands by 18.0% in the fourth quarter. Brandywine Global Investment Management LLC now owns 2,833,831 shares of the company’s stock valued at $78,639,000 after purchasing an additional 433,276 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of CAG opened at $26.71 on Friday. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.76 and a beta of 0.18. The business’s 50 day moving average is $25.74 and its two-hundred day moving average is $27.44.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.24%. The ex-dividend date is Monday, April 28th. Conagra Brands’s payout ratio is currently 137.25%.

Analysts Set New Price Targets

CAG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lowered their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Finally, Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.20.

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.