Mirae Asset Global Investments Co. Ltd. Sells 23,307 Shares of Conagra Brands, Inc. (NYSE:CAG)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 14.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 137,897 shares of the company’s stock after selling 23,307 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Conagra Brands were worth $3,952,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Conagra Brands in the fourth quarter valued at about $163,004,000. State Street Corp increased its stake in shares of Conagra Brands by 12.8% in the 1st quarter. State Street Corp now owns 23,556,766 shares of the company’s stock valued at $790,801,000 after acquiring an additional 2,671,720 shares during the last quarter. Invesco Ltd. raised its position in shares of Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after acquiring an additional 2,619,372 shares during the period. American Century Companies Inc. boosted its stake in Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after acquiring an additional 1,737,380 shares during the last quarter. Finally, Barclays PLC grew its holdings in Conagra Brands by 75.7% during the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after purchasing an additional 1,614,986 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CAG shares. Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Royal Bank of Canada decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Wells Fargo & Company raised their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Finally, Citigroup boosted their price objective on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $33.14.

Conagra Brands Stock Up 0.8 %

Shares of Conagra Brands stock opened at $30.00 on Wednesday. The firm has a market cap of $14.34 billion, a PE ratio of 15.08, a P/E/G ratio of 2.94 and a beta of 0.41. The business’s 50 day simple moving average is $28.68 and its 200 day simple moving average is $28.46. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.73.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the company earned $0.76 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.67%. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

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.