Bank of New York Mellon Corp Acquires 642,806 Shares of Conagra Brands, Inc. (NYSE:CAG)

Bank of New York Mellon Corp raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,462,414 shares of the company’s stock after buying an additional 642,806 shares during the quarter. Bank of New York Mellon Corp owned about 1.14% of Conagra Brands worth $151,582,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp boosted its position in shares of Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Conagra Brands by 1.7% during the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after purchasing an additional 196,100 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after purchasing an additional 122,590 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Down 0.1 %

CAG stock opened at $25.54 on Friday. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The business has a fifty day moving average price of $25.98 and a 200-day moving average price of $28.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock has a market capitalization of $12.19 billion, a P/E ratio of 25.04, a P/E/G ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The company’s revenue was down .4% on a year-over-year basis. Equities analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Monday, January 27th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.48%. The ex-dividend date was Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.25%.

Analyst Ratings Changes

CAG has been the topic of several research reports. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Barclays lowered their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Stifel Nicolaus lowered their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $28.67.

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.