Allspring Global Investments Holdings LLC Has $18.28 Million Stake in Conagra Brands, Inc. (NYSE:CAG)

Allspring Global Investments Holdings LLC decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 45.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 562,147 shares of the company’s stock after selling 475,356 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Conagra Brands were worth $18,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its position in shares of Conagra Brands by 82.8% during 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. Whittier Trust Co. grew its position in shares of Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after buying an additional 836 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Conagra Brands during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

NYSE CAG opened at $29.35 on Friday. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 3.03 and a beta of 0.32. The company has a fifty day moving average price of $31.08 and a 200-day moving average price of $30.27.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore ISI decreased their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Bank of America decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.63.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by insiders.

Conagra Brands Company 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.