Allspring Global Investments Holdings LLC Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Allspring Global Investments Holdings LLC cut its position in Conagra Brands, Inc. (NYSE:CAGFree Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 632,690 shares of the company’s stock after selling 32,948 shares during the period. Allspring Global Investments Holdings LLC owned 0.13% of Conagra Brands worth $18,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CAG. Naples Money Management LLC purchased a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $26,000. First United Bank & Trust purchased a new position in shares of Conagra Brands in the 4th quarter valued at $26,000. Advantage Trust Co purchased a new position in shares of Conagra Brands in the 4th quarter valued at $34,000. Parkside Financial Bank & Trust grew its position in shares of Conagra Brands by 48.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after buying an additional 454 shares during the last quarter. Finally, Bogart Wealth LLC grew its position in shares of Conagra Brands by 143.3% in the 4th quarter. Bogart Wealth LLC now owns 1,550 shares of the company’s stock valued at $44,000 after buying an additional 913 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.4 %

CAG stock opened at $28.24 on Friday. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $33.71. The stock has a market capitalization of $13.50 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 2.73 and a beta of 0.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The company has a fifty day moving average of $29.68 and a 200-day moving average of $29.22.

Conagra Brands (NYSE:CAGGet Free Report) last released its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business earned $0.76 EPS. The business’s revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAG. Barclays increased their target price on shares of 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 raised their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Stifel Nicolaus raised their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Citigroup lowered their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

Read Our Latest Stock Analysis on CAG

Insider Activity at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the sale, the executive vice president now owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Conagra Brands 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.

Featured Stories

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAGFree Report).

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

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.