Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 813,493 shares of the company’s stock after selling 76,824 shares during the quarter. Victory Capital Management Inc.’s holdings in Conagra Brands were worth $26,455,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CAG. Marshall Wace LLP grew its position in Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after buying an additional 2,242,186 shares during the period. Federated Hermes Inc. grew its position in shares of Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after acquiring an additional 1,871,238 shares during the period. Squarepoint Ops LLC increased its stake in shares of Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after purchasing an additional 1,513,726 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Conagra Brands by 2,552.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after purchasing an additional 1,241,121 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its position in Conagra Brands by 523.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after purchasing an additional 1,214,859 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 2.7 %

Shares of NYSE CAG opened at $26.70 on Monday. The stock has a market cap of $12.74 billion, a PE ratio of 25.92, a P/E/G ratio of 2.75 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24. The company has a 50-day moving average of $30.20 and a 200 day moving average of $30.03.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the company earned $0.66 earnings per share. Conagra Brands’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Analysts Set New Price Targets

A number of research firms have recently commented on CAG. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average price target of $31.63.

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.