Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,048 shares of the company’s stock after selling 1,298 shares during the period. Mutual of America Capital Management LLC’s holdings in Conagra Brands were worth $1,920,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Marshall Wace LLP increased its holdings in shares of Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after acquiring an additional 2,242,186 shares during the period. Federated Hermes Inc. boosted its position in shares of Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares during the period. Squarepoint Ops LLC grew its holdings in Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Conagra Brands by 2,552.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after acquiring an additional 1,241,121 shares during the period. Finally, Miller Howard Investments Inc. NY raised its stake in Conagra Brands by 523.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after acquiring an additional 1,214,859 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America reduced their target price 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. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, 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 Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Performance

Shares of CAG stock opened at $27.42 on Monday. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.80 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The company has a 50-day simple moving average of $29.67 and a 200 day simple moving average of $29.90.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 5.11%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

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.