Jump Financial LLC Trims Holdings in Conagra Brands, Inc. (NYSE:CAG)

Jump Financial LLC reduced its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,086 shares of the company’s stock after selling 109,615 shares during the period. Jump Financial LLC’s holdings in Conagra Brands were worth $8,660,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Conagra Brands by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock valued at $1,631,671,000 after acquiring an additional 1,132,839 shares in the last quarter. Nordea Investment Management AB increased its stake in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares in the last quarter. Geode Capital Management LLC increased its stake in Conagra Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company’s stock valued at $325,096,000 after purchasing an additional 231,477 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Conagra Brands by 18.5% in the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company’s stock worth $309,728,000 after buying an additional 1,745,319 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $168,877,000. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CAG shares. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Stifel Nicolaus lowered their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Barclays lifted their price objective on Conagra Brands from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.90.

Conagra Brands Stock Down 2.3 %

Shares of CAG stock opened at $25.59 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The stock has a market cap of $12.21 billion, a P/E ratio of 25.08, a P/E/G ratio of 1.76 and a beta of 0.27. The company has a 50 day simple moving average of $25.74 and a two-hundred day simple moving average of $27.05.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.69 earnings per share. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.47%. Conagra Brands’s dividend payout ratio (DPR) is presently 205.88%.

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.