Tokio Marine Asset Management Co. Ltd. Cuts Position in Conagra Brands, Inc. (NYSE:CAG)

Tokio Marine Asset Management Co. Ltd. cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,027 shares of the company’s stock after selling 713 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Conagra Brands were worth $316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Exchange Traded Concepts LLC boosted its position in Conagra Brands by 8.6% during the third quarter. Exchange Traded Concepts LLC now owns 18,546 shares of the company’s stock valued at $509,000 after buying an additional 1,474 shares during the period. Czech National Bank boosted its position in Conagra Brands by 47.9% during the third quarter. Czech National Bank now owns 83,521 shares of the company’s stock valued at $2,290,000 after buying an additional 27,065 shares during the period. Valeo Financial Advisors LLC boosted its position in Conagra Brands by 10.9% during the third quarter. Valeo Financial Advisors LLC now owns 16,544 shares of the company’s stock valued at $454,000 after buying an additional 1,625 shares during the period. Bfsg LLC boosted its position in Conagra Brands by 10.3% during the third quarter. Bfsg LLC now owns 35,153 shares of the company’s stock valued at $964,000 after buying an additional 3,275 shares during the period. Finally, Ridgewood Investments LLC boosted its position in Conagra Brands by 26.0% during the third quarter. Ridgewood Investments LLC now owns 20,739 shares of the company’s stock valued at $569,000 after buying an additional 4,283 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $31.08 on Monday. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.73. The company has a 50 day simple moving average of $29.23 and a two-hundred day simple moving average of $28.69. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 3.12 and a beta of 0.41. 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 (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share 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 business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

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

Analyst Ratings Changes

CAG has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Barclays upped their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Royal Bank of Canada lowered their price objective on shares of 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. Finally, 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. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average price target of $33.14.

Conagra Brands 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.