Conagra Brands, Inc. (NYSE:CAG) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,745,629 shares of the company’s stock after purchasing an additional 231,477 shares during the quarter. Geode Capital Management LLC owned 2.46% of Conagra Brands worth $325,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Grove Bank & Trust increased its holdings in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after acquiring an additional 501 shares during the last quarter. Xponance Inc. raised its position in shares of Conagra Brands by 0.8% during the fourth quarter. Xponance Inc. now owns 65,680 shares of the company’s stock worth $1,823,000 after purchasing an additional 505 shares during the period. International Private Wealth Advisors LLC lifted its holdings in shares of Conagra Brands by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after purchasing an additional 527 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its position in shares of Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Morgan Stanley started coverage on Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, Bank of America reduced 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. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.20.

Conagra Brands Stock Down 0.3 %

CAG opened at $26.71 on Friday. The company has a market capitalization of $12.75 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The business has a 50-day moving average of $25.74 and a 200-day moving average of $27.47.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands’s payout ratio is 137.25%.

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.