Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,767,076 shares of the company’s stock after selling 200,238 shares during the quarter. Cullen Capital Management LLC owned 0.37% of Conagra Brands worth $49,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. acquired a new position in Conagra Brands during the fourth quarter worth $4,430,000. Wealth Advisors of Tampa Bay LLC raised its stake in shares of Conagra Brands by 10.9% during the 4th quarter. Wealth Advisors of Tampa Bay LLC now owns 74,758 shares of the company’s stock worth $2,075,000 after buying an additional 7,335 shares during the last quarter. Savoir Faire Capital Management L.P. acquired a new position in shares of Conagra Brands during the 4th quarter worth $3,946,000. Landscape Capital Management L.L.C. boosted its position in shares of Conagra Brands by 125.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 164,207 shares of the company’s stock worth $4,557,000 after buying an additional 91,214 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in Conagra Brands by 316.7% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,763 shares of the company’s stock valued at $160,000 after acquiring an additional 4,380 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAG. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Stifel Nicolaus reduced their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $26.00 in a report on Monday, February 24th. Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Citigroup decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.20.

Conagra Brands Stock Performance

NYSE:CAG opened at $26.71 on Friday. The company has a market cap of $12.75 billion, a P/E ratio of 26.19, a P/E/G ratio of 1.76 and a beta of 0.18. The firm’s 50 day moving average is $25.74 and its two-hundred day moving average is $27.47. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

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

Conagra Brands Announces Dividend

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

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.