IFM Investors Pty Ltd Cuts Holdings in Conagra Brands $CAG

IFM Investors Pty Ltd trimmed its holdings in shares of Conagra Brands (NYSE:CAG) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,676 shares of the company’s stock after selling 1,718 shares during the quarter. IFM Investors Pty Ltd’s holdings in Conagra Brands were worth $1,918,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in Conagra Brands by 233.7% in the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after purchasing an additional 4,191,555 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Conagra Brands by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after purchasing an additional 2,702,407 shares during the last quarter. KBC Group NV grew its holdings in Conagra Brands by 560.1% in the first quarter. KBC Group NV now owns 2,042,766 shares of the company’s stock worth $54,480,000 after purchasing an additional 1,733,297 shares during the last quarter. Vanguard Group Inc. grew its holdings in Conagra Brands by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock worth $1,610,971,000 after purchasing an additional 1,604,893 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Conagra Brands by 5,102.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,216,421 shares of the company’s stock worth $32,442,000 after purchasing an additional 1,193,041 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Friday, July 11th. Evercore ISI lowered their price objective on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a research note on Friday, July 11th. Morgan Stanley lowered their price objective on shares of Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, July 11th. The Goldman Sachs Group downgraded shares of Conagra Brands from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. Finally, Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.17.

Conagra Brands Stock Performance

NYSE:CAG opened at $18.34 on Tuesday. The company’s 50-day moving average is $19.08 and its two-hundred day moving average is $22.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. Conagra Brands has a 1-year low of $18.18 and a 1-year high of $32.90. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 1.77 and a beta of 0.07.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. Analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.6%. Conagra Brands’s dividend payout ratio (DPR) is presently 58.58%.

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.