Allspring Global Investments Holdings LLC Lowers Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Allspring Global Investments Holdings LLC lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 456,265 shares of the company’s stock after selling 105,882 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Conagra Brands worth $12,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the 4th quarter worth about $28,000. Grove Bank & Trust raised its position in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the 4th quarter worth about $44,000. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands in the 3rd quarter worth about $47,000. Finally, ST Germain D J Co. Inc. raised its position in shares of Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after purchasing an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 1.3 %

Shares of NYSE:CAG opened at $25.31 on Tuesday. The stock has a 50 day moving average of $26.41 and a 200 day moving average of $28.67. The company has a market cap of $12.08 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.70 and a beta of 0.28. 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 $24.18 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $0.71 EPS. The firm’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is 137.26%.

Wall Street Analyst Weigh In

CAG has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company reduced their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Bank of America reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $30.33.

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.