Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 25.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 241,963 shares of the company’s stock after selling 83,097 shares during the period. Mediolanum International Funds Ltd’s holdings in Conagra Brands were worth $6,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $28,000. Hexagon Capital Partners LLC grew its holdings in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares in the last quarter. Grove Bank & Trust grew its stake in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $47,000. Finally, ST Germain D J Co. Inc. increased its stake 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 worth $55,000 after acquiring an additional 529 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAG. Barclays reduced their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Stifel Nicolaus decreased their price target on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company dropped their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Finally, Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.33.

Conagra Brands Stock Down 1.5 %

Shares of NYSE:CAG opened at $25.89 on Friday. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.29. The firm’s 50 day moving average price is $26.97 and its 200 day moving average price is $29.06. Conagra Brands, Inc. has a fifty-two week low of $25.06 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 issued its 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. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

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.