M&G Plc Sells 1,911 Shares of Conagra Brands, Inc. (NYSE:CAG)

M&G Plc lessened its holdings in Conagra Brands, Inc. (NYSE:CAG) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,888 shares of the company’s stock after selling 1,911 shares during the quarter. M&G Plc’s holdings in Conagra Brands were worth $788,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after acquiring an additional 633,794 shares during the period. Squarepoint Ops LLC lifted its position in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after acquiring an additional 1,513,726 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Conagra Brands by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after purchasing an additional 78,487 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Trading Up 0.5 %

Shares of NYSE CAG opened at $28.44 on Friday. The stock has a market cap of $13.57 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 2.98 and a beta of 0.34. The firm has a 50 day moving average price of $30.67 and a two-hundred day moving average price of $30.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a 52-week low of $26.62 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Insider Activity

In other news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on CAG shares. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Bank of America reduced their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.63.

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.