Tyers Asset Management LLC Trims Stock Holdings in Conagra Brands Inc (NYSE:CAG)

Tyers Asset Management LLC lowered its position in shares of Conagra Brands Inc (NYSE:CAG) by 36.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 46,784 shares of the company’s stock after selling 26,368 shares during the period. Tyers Asset Management LLC’s holdings in Conagra Brands were worth $1,241,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its holdings in Conagra Brands by 20.9% in the first quarter. BlackRock Inc. now owns 43,165,563 shares of the company’s stock worth $1,197,414,000 after purchasing an additional 7,469,653 shares during the period. FMR LLC lifted its holdings in shares of Conagra Brands by 27.2% during the first quarter. FMR LLC now owns 14,183,529 shares of the company’s stock valued at $393,451,000 after purchasing an additional 3,031,757 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Conagra Brands by 36.8% during the fourth quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock valued at $146,052,000 after purchasing an additional 1,840,875 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Conagra Brands by 1.7% during the second quarter. Northern Trust Corp now owns 5,922,217 shares of the company’s stock valued at $157,056,000 after purchasing an additional 100,250 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Conagra Brands by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 3,676,494 shares of the company’s stock worth $97,501,000 after purchasing an additional 20,051 shares in the last quarter. Hedge funds and other institutional investors own 87.22% of the company’s stock.

In other Conagra Brands news, Director Ruth Ann Marshall sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $27.00, for a total value of $81,000.00. Following the completion of the transaction, the director now owns 102,387 shares of the company’s stock, valued at approximately $2,764,449. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Craig P. Omtvedt bought 25,000 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average price of $26.73 per share, for a total transaction of $668,250.00. The disclosure for this purchase can be found here. Insiders have sold 33,589 shares of company stock worth $929,334 over the last ninety days. 0.84% of the stock is currently owned by insiders.



A number of research analysts recently weighed in on CAG shares. Morgan Stanley began coverage on Conagra Brands in a research report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price objective for the company. Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $31.00 in a report on Friday, September 6th. UBS Group set a $32.00 target price on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, June 28th. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research note on Monday, July 8th. Finally, Evercore ISI assumed coverage on Conagra Brands in a report on Tuesday, June 11th. They set an “outperform” rating and a $36.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.36.

NYSE CAG traded up $0.17 during mid-day trading on Wednesday, reaching $29.62. The stock had a trading volume of 2,296,105 shares, compared to its average volume of 3,616,782. The stock has a market cap of $14.32 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Conagra Brands Inc has a 1 year low of $20.22 and a 1 year high of $38.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.28 and a quick ratio of 0.54. The company has a fifty day moving average price of $28.64 and a 200 day moving average price of $27.92.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. As a group, equities research analysts expect that Conagra Brands Inc will post 2.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, July 30th were issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, July 29th. Conagra Brands’s payout ratio is currently 42.29%.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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