Conagra Brands, Inc. (NYSE:CAG) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 24.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 230,681 shares of the company’s stock after selling 76,563 shares during the period. USS Investment Management Ltd’s holdings in Conagra Brands were worth $6,403,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CAG. Riverview Trust Co acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $41,000. Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $44,000. Asset Planning Inc acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $53,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Conagra Brands in the 4th quarter valued at $73,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Down 0.8%

CAG stock opened at $22.30 on Friday. The company has a market cap of $10.65 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 52 week low of $21.98 and a 52 week high of $33.24. The company’s 50-day moving average price is $24.81 and its 200 day moving average price is $25.97. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date is Monday, April 28th. Conagra Brands’s payout ratio is currently 205.88%.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price objective on the stock. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Stifel Nicolaus cut 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 note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Finally, Barclays cut their price target on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.50.

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.