JPMorgan Chase & Co. Has $107.26 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

JPMorgan Chase & Co. lessened its position in Conagra Brands, Inc. (NYSE:CAG) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,298,122 shares of the company’s stock after selling 1,292,327 shares during the quarter. JPMorgan Chase & Co. owned about 0.69% of Conagra Brands worth $107,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC bought a new position in shares of Conagra Brands in the second quarter worth about $25,000. Hexagon Capital Partners LLC increased its position in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands during the third quarter worth approximately $47,000. Kennebec Savings Bank bought a new stake in shares of Conagra Brands in the third quarter valued at approximately $59,000. Finally, Quarry LP grew its stake in shares of Conagra Brands by 229.7% in the third quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after acquiring an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.8 %

Shares of NYSE CAG opened at $27.75 on Thursday. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The business has a fifty day moving average of $27.87 and a two-hundred day moving average of $29.43. The stock has a market cap of $13.25 billion, a PE ratio of 26.94, a PEG ratio of 2.91 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.25%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Bank of America decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company cut their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.75.

About Conagra Brands

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.