Rockefeller Capital Management L.P. Grows Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Rockefeller Capital Management L.P. raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 46.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 434,911 shares of the company’s stock after acquiring an additional 137,378 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.09% of Conagra Brands worth $12,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands during the 4th quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands during the fourth quarter valued at $29,000. Grove Bank & Trust increased its position in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Conagra Brands in the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Bank of America reduced their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Barclays lifted their price objective on Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $27.90.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.59 on Wednesday. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock’s 50-day moving average is $25.74 and its 200-day moving average is $27.05.

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

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.47%. Conagra Brands’s dividend payout ratio is currently 205.88%.

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.