Conagra Brands, Inc. (NYSE:CAG) Shares Sold by National Pension Service

National Pension Service reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 76.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 275,096 shares of the company’s stock after selling 885,153 shares during the quarter. National Pension Service owned 0.06% of Conagra Brands worth $7,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $28,000. Grove Bank & Trust grew its position in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $44,000. Kennebec Savings Bank acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $59,000. Finally, Quarry LP grew its position in shares of Conagra Brands by 229.7% in the third quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after purchasing an additional 1,268 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE:CAG opened at $25.54 on Friday. 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 company has a market cap of $12.19 billion, a P/E ratio of 25.04, a P/E/G ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm’s 50 day moving average is $25.98 and its two-hundred day moving average is $28.37.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. Analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date was Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.25%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CAG shares. Bank of America lowered 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 report on Friday, December 20th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Barclays lowered 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. Citigroup reduced their price objective 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus target price of $28.67.

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.