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

Allspring Global Investments Holdings LLC boosted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 64.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,037,503 shares of the company’s stock after buying an additional 404,813 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.22% of Conagra Brands worth $29,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Conagra Brands during the 4th quarter worth about $140,473,000. Charles Schwab Investment Management Inc. grew its position in shares of Conagra Brands by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,857,207 shares of the company’s stock valued at $81,888,000 after buying an additional 127,739 shares during the last quarter. Raymond James & Associates grew its position in shares of Conagra Brands by 26.2% in the 2nd quarter. Raymond James & Associates now owns 1,889,319 shares of the company’s stock valued at $53,694,000 after buying an additional 392,305 shares during the last quarter. AMF Tjanstepension AB purchased a new stake in Conagra Brands in the first quarter valued at $47,980,000. Finally, Junto Capital Management LP acquired a new position in Conagra Brands in the fourth quarter valued at $36,069,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 0.7 %

Shares of NYSE CAG opened at $31.27 on Wednesday. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $31.82. The firm has a 50-day moving average price of $29.58 and a 200 day moving average price of $29.51. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CAG shares. Citigroup cut their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company reduced their price objective on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada decreased their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Evercore ISI lowered their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.90.

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.