DAVENPORT & Co LLC Sells 6,207 Shares of Conagra Brands, Inc. (NYSE:CAG)

DAVENPORT & Co LLC lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,703 shares of the company’s stock after selling 6,207 shares during the period. DAVENPORT & Co LLC’s holdings in Conagra Brands were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB lifted its stake in Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after purchasing an additional 618,096 shares during the last quarter. Geode Capital Management LLC lifted its stake in Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Conagra Brands by 2.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after purchasing an additional 122,590 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $25.03 on Wednesday. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 52 week low of $24.85 and a 52 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. The firm has a 50 day moving average of $26.88 and a 200 day moving average of $28.99.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.59%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.26%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAG. Wells Fargo & Company decreased their price objective on shares of 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. Citigroup decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Barclays decreased their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Bank of America decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.33.

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.