Franklin Resources Inc. Sells 73,862 Shares of Conagra Brands, Inc. (NYSE:CAG)

Franklin Resources Inc. cut its stake in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 508,761 shares of the company’s stock after selling 73,862 shares during the quarter. Franklin Resources Inc. owned approximately 0.11% of Conagra Brands worth $14,581,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CAG. Norges Bank bought a new position in shares of Conagra Brands during the 4th quarter valued at approximately $140,473,000. Invesco Ltd. boosted its stake in Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares during the period. American Century Companies Inc. boosted its stake in Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after purchasing an additional 1,737,380 shares during the period. Barclays PLC boosted its stake in Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after purchasing an additional 1,614,986 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after purchasing an additional 1,330,249 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAG shares. Wells Fargo & Company upped their price target 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. Citigroup upped their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Stifel Nicolaus upped their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Finally, Barclays upped their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.14.

Read Our Latest Research Report on Conagra Brands

Conagra Brands Stock Performance

NYSE:CAG opened at $29.74 on Wednesday. The stock’s fifty day moving average is $30.36 and its 200 day moving average is $29.19. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $35.60. The firm has a market capitalization of $14.22 billion, a PE ratio of 14.94, a PEG ratio of 3.04 and a beta of 0.38. 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:CAGGet Free Report) 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. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. Conagra Brands’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.71%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Conagra Brands Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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