Allspring Global Investments Holdings LLC Acquires 404,813 Shares of Conagra Brands, Inc. (NYSE:CAG)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 64.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,037,503 shares of the company’s stock after acquiring an additional 404,813 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Conagra Brands were worth $29,486,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Teacher Retirement System of Texas increased its holdings in shares of Conagra Brands by 316.6% in the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock valued at $4,414,000 after purchasing an additional 117,042 shares during the last quarter. Valley Wealth Managers Inc. lifted its position in Conagra Brands by 7.7% during the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after acquiring an additional 37,149 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Conagra Brands by 237.9% during the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after acquiring an additional 54,195 shares during the period. Stifel Financial Corp grew its position in shares of Conagra Brands by 12.2% in the fourth quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock valued at $23,385,000 after purchasing an additional 88,576 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Conagra Brands by 60.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 71,374 shares of the company’s stock worth $2,046,000 after purchasing an additional 26,774 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Up 0.7 %

Shares of CAG stock opened at $31.27 on Wednesday. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $31.82. The stock’s fifty day moving average price is $29.58 and its two-hundred day moving average price is $29.51. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The company has a market cap of $14.95 billion, a PE ratio of 42.84, a P/E/G ratio of 2.65 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. Conagra Brands’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Equities analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 1st will be paid 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 Thursday, August 1st. Conagra Brands’s payout ratio is 191.78%.

Insider Buying and Selling at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Barclays cut their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada dropped their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Evercore ISI reduced their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and an average price target of $30.90.

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.