Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Conagra Brands, Inc. (NYSE:CAG) by 20.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 839,793 shares of the company’s stock after selling 213,181 shares during the quarter. Victory Capital Management Inc.’s holdings in Conagra Brands were worth $24,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new stake in shares of Conagra Brands in the 4th quarter worth $26,000. Thompson Investment Management Inc. boosted its position in shares of Conagra Brands by 100.0% during the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new stake in shares of Conagra Brands in the third quarter valued at about $33,000. Parkside Financial Bank & Trust increased its position in Conagra Brands by 48.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares during the last quarter. Finally, Peoples Bank KS purchased a new position in Conagra Brands during the third quarter worth about $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup increased their price target 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. 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. Barclays upped their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus increased their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.14.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $30.83 on Thursday. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.07 and a beta of 0.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The business has a 50-day moving average of $29.65 and a 200 day moving average of $28.87. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $37.98.

Conagra Brands (NYSE:CAG) last posted 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 business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. As a group, sell-side analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio is currently 70.35%.

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.