Xponance Inc. Sells 46,956 Shares of Conagra Brands, Inc. (NYSE:CAG)

Xponance Inc. lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 43.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,049 shares of the company’s stock after selling 46,956 shares during the quarter. Xponance Inc.’s holdings in Conagra Brands were worth $1,750,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CAG. Invesco Ltd. lifted its position in Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after buying an additional 2,619,372 shares during the last quarter. American Century Companies Inc. lifted its position in Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after buying an additional 1,737,380 shares during the last quarter. Barclays PLC lifted its position in Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after buying an additional 1,614,986 shares during the last quarter. Federated Hermes Inc. lifted its position in Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after buying an additional 1,330,249 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Conagra Brands by 401.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock worth $41,663,000 after purchasing an additional 1,216,389 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG stock opened at $31.27 on Wednesday. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.12 and a beta of 0.42. The business’s fifty day moving average is $28.98 and its 200 day moving average is $28.61. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $38.73. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. Research analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAG. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Stifel Nicolaus lifted their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Barclays lifted their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Citigroup lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada decreased their price target on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.14.

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.