TD Asset Management Inc Cuts Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

TD Asset Management Inc decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) by 19.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,642 shares of the company’s stock after selling 50,558 shares during the period. TD Asset Management Inc’s holdings in Conagra Brands were worth $5,980,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in Conagra Brands by 188.3% in the fourth quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after purchasing an additional 100,141 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Conagra Brands by 316.6% in the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after purchasing an additional 117,042 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Conagra Brands by 120.3% in the third quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after purchasing an additional 469,421 shares during the last quarter. Valley Wealth Managers Inc. boosted its position in Conagra Brands by 7.7% in the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after purchasing an additional 37,149 shares during the last quarter. Finally, Adams Asset Advisors LLC purchased a new position in Conagra Brands in the fourth quarter worth $7,690,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

CAG has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report 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 report on Monday, April 8th. Wells Fargo & Company upped their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Finally, Citigroup upped their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.14.

Read Our Latest Research Report on CAG

Conagra Brands Stock Performance

NYSE:CAG opened at $29.77 on Thursday. 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, Inc. has a 52-week low of $25.16 and a 52-week high of $35.12. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 2.93 and a beta of 0.32. The business’s fifty day moving average is $30.42 and its 200 day moving average is $29.25.

Conagra Brands (NYSE:CAGGet Free Report) last released its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.70%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Insiders Place Their Bets

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction dated 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 directly owns 113,254 shares in the company, valued at approximately $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

About Conagra Brands

(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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