Conagra Brands $CAG Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC lessened its stake in shares of Conagra Brands (NYSE:CAG) by 11.1% in the 4th quarter, Holdings Channel reports. The firm owned 4,684,971 shares of the company’s stock after selling 584,561 shares during the period. Conagra Brands accounts for 1.4% of Thompson Siegel & Walmsley LLC’s investment portfolio, making the stock its 9th largest holding. Thompson Siegel & Walmsley LLC’s holdings in Conagra Brands were worth $81,097,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth about $26,000. MUFG Securities EMEA plc purchased a new stake in Conagra Brands during the 2nd quarter valued at about $29,000. Harbour Investments Inc. grew its stake in Conagra Brands by 80.4% during the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after acquiring an additional 701 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Conagra Brands during the 3rd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Conagra Brands by 100.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Conagra Brands from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. BNP Paribas Exane dropped their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. TD Cowen dropped their price objective on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research note on Wednesday, March 25th. Evercore dropped their price objective on shares of Conagra Brands from $19.00 to $18.00 in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $15.47.

Insider Activity at Conagra Brands

In other news, Director Richard H. Lenny purchased 25,000 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was acquired at an average price of $14.34 per share, with a total value of $358,500.00. Following the purchase, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. This represents a 12.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John J. Mulligan purchased 17,500 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average cost of $14.31 per share, with a total value of $250,425.00. Following the purchase, the director owned 20,728 shares in the company, valued at approximately $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Conagra Brands Stock Performance

Conagra Brands stock opened at $13.29 on Monday. The firm has a 50 day simple moving average of $14.53 and a 200-day simple moving average of $16.64. Conagra Brands has a 1-year low of $13.13 and a 1-year high of $22.98. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of -132.86 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the company earned $0.51 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts expect that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.40 annualized dividend and a dividend yield of 10.5%. Conagra Brands’s dividend payout ratio is -1,400.00%.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.