International Assets Investment Management LLC Lowers Holdings in Conagra Brands, Inc. (NYSE:CAG)

International Assets Investment Management LLC decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 73.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,431 shares of the company’s stock after selling 79,561 shares during the quarter. International Assets Investment Management LLC’s holdings in Conagra Brands were worth $815,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAG. American Century Companies Inc. grew its holdings 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 in the last quarter. Invesco Ltd. increased its holdings in Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after buying an additional 2,619,372 shares during the period. Northern Trust Corp raised its stake in Conagra Brands by 3.8% in the third quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock worth $164,585,000 after buying an additional 220,024 shares in the last quarter. Barclays PLC raised its stake in Conagra Brands by 75.7% in the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after buying an additional 1,614,986 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Conagra Brands by 28.6% during the third quarter. Deutsche Bank AG now owns 2,951,129 shares of the company’s stock worth $80,920,000 after buying an additional 657,170 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Royal Bank of Canada cut their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 3rd. Citigroup upped their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company boosted 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. Finally, Stifel Nicolaus increased their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.14.

Conagra Brands Price Performance

NYSE:CAG opened at $31.27 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $38.73. The stock’s 50-day moving average price is $28.98 and its 200-day moving average price is $28.61. The stock has a market capitalization of $14.95 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 3.07 and a beta of 0.41.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS 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%. Conagra Brands’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.48%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio 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.