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

Allspring Global Investments Holdings LLC cut its holdings in Conagra Brands, Inc. (NYSE:CAG) by 45.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 562,147 shares of the company’s stock after selling 475,356 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.12% of Conagra Brands worth $18,281,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Federated Hermes Inc. grew its stake in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after acquiring an additional 1,871,238 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Conagra Brands by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after acquiring an additional 633,794 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after acquiring an additional 1,513,726 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after acquiring an additional 2,242,186 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Conagra Brands by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after buying an additional 78,487 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Down 0.3 %

Shares of NYSE CAG opened at $29.35 on Friday. The company has a 50 day simple moving average of $31.08 and a 200 day simple moving average of $30.27. The firm has a market cap of $14.01 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 3.03 and a beta of 0.32. 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.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data 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). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. On average, research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 4.77%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CAG. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Citigroup reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.63.

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.