Mackenzie Financial Corp Sells 1,644 Shares of Conagra Brands, Inc. (NYSE:CAG)

Mackenzie Financial Corp cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,397 shares of the company’s stock after selling 1,644 shares during the quarter. Mackenzie Financial Corp’s holdings in Conagra Brands were worth $2,591,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Dynamic Advisor Solutions LLC purchased a new position in shares of Conagra Brands during the third quarter worth approximately $233,000. CWM LLC lifted its stake in Conagra Brands by 18.7% in the third quarter. CWM LLC now owns 19,395 shares of the company’s stock worth $532,000 after purchasing an additional 3,053 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Conagra Brands by 44.2% during the third quarter. Geneos Wealth Management Inc. now owns 3,127 shares of the company’s stock valued at $86,000 after buying an additional 959 shares during the period. Ronald Blue Trust Inc. grew its stake in shares of Conagra Brands by 134.5% during the third quarter. Ronald Blue Trust Inc. now owns 1,494 shares of the company’s stock valued at $41,000 after buying an additional 857 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Conagra Brands by 203.5% in the third quarter. SG Americas Securities LLC now owns 100,733 shares of the company’s stock worth $2,762,000 after buying an additional 67,543 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $31.10 on Tuesday. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.73. The stock’s 50 day simple moving average is $28.90 and its two-hundred day simple moving average is $28.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 3.07 and a beta of 0.41.

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

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.50%. Conagra Brands’s payout ratio is 70.35%.

Wall Street Analysts Forecast Growth

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

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.