Wrapmanager Inc. Has $384,000 Holdings in Conagra Brands, Inc. (NYSE:CAG)

Wrapmanager Inc. lessened its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,391 shares of the company’s stock after selling 2,924 shares during the period. Wrapmanager Inc.’s holdings in Conagra Brands were worth $384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake 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 valued at $388,580,000 after purchasing an additional 1,737,380 shares during the period. Invesco Ltd. lifted its holdings in shares of Conagra Brands by 37.1% during the third 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 in the last quarter. Federated Hermes Inc. boosted its position in shares of Conagra Brands by 18.7% in the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after acquiring an additional 1,330,249 shares during the period. Northern Trust Corp grew its stake in shares of Conagra Brands by 3.8% in the third quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock valued at $164,585,000 after acquiring an additional 220,024 shares in the last quarter. Finally, Barclays PLC increased its position in Conagra Brands by 75.7% during the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after acquiring an additional 1,614,986 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CAG shares. Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Citigroup lifted their price objective on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and an average price target of $33.14.

Conagra Brands Price Performance

Shares of CAG stock traded down $0.05 on Thursday, reaching $30.78. The company had a trading volume of 1,959,909 shares, compared to its average volume of 4,980,254. The stock has a market capitalization of $14.71 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 3.07 and a beta of 0.38. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The business’s 50-day moving average is $29.70 and its 200 day moving average is $28.88. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $37.93.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.55%. Conagra Brands’s payout ratio is presently 70.35%.

About Conagra Brands

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.