Bank of New York Mellon Corp Has $180.85 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Bank of New York Mellon Corp reduced its stake in Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,542,455 shares of the company’s stock after selling 7,585 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.16% of Conagra Brands worth $180,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its holdings in Conagra Brands by 1,492.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 796 shares of the company’s stock worth $26,000 after purchasing an additional 746 shares during the last quarter. Centerpoint Advisors LLC acquired a new position in shares of Conagra Brands during the third quarter worth approximately $33,000. Parkside Financial Bank & Trust lifted its holdings in shares of Conagra Brands by 38.0% during the third quarter. Parkside Financial Bank & Trust now owns 1,441 shares of the company’s stock worth $47,000 after buying an additional 397 shares during the last quarter. Ossiam acquired a new position in shares of Conagra Brands during the second quarter worth approximately $68,000. Finally, Alta Advisers Ltd acquired a new position in shares of Conagra Brands during the third quarter worth approximately $69,000. 81.08% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $35.52 on Friday. The business’s fifty day moving average price is $37.02 and its two-hundred day moving average price is $36.24. Conagra Brands, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $41.30. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.14 and a beta of 0.55. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.29.

Conagra Brands (NYSE:CAG – Get Rating) last announced its quarterly earnings results on Thursday, January 5th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. Conagra Brands had a return on equity of 14.38% and a net margin of 5.66%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts predict that Conagra Brands, Inc. will post 2.66 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Monday, January 30th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Friday, January 27th. Conagra Brands’s dividend payout ratio is currently 93.62%.

Analyst Ratings Changes

A number of brokerages have recently commented on CAG. Royal Bank of Canada upped their price target on Conagra Brands from $35.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft lowered Conagra Brands from a “hold” rating to a “sell” rating and upped their price target for the stock from $33.00 to $34.00 in a report on Tuesday, December 6th. Evercore ISI upped their price target on Conagra Brands from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 29th. Morgan Stanley upped their price target on Conagra Brands from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Finally, UBS Group boosted their price objective on Conagra Brands from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.64.

Insiders Place Their Bets

In other Conagra Brands news, SVP Robert G. Wise sold 50,000 shares of the business’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $40.90, for a total value of $2,045,000.00. Following the transaction, the senior vice president now owns 22,717 shares of the company’s stock, valued at $929,125.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

Conagra Brands Profile

(Get Rating)

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.