Victory Capital Management Inc. Decreases Stake in Conagra Brands, Inc. (NYSE:CAG)

Victory Capital Management Inc. trimmed its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 752,649 shares of the company’s stock after selling 60,844 shares during the quarter. Victory Capital Management Inc. owned 0.16% of Conagra Brands worth $20,886,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co bought a new stake in shares of Conagra Brands in the fourth quarter worth $29,000. Grove Bank & Trust raised its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands during the 4th quarter valued at $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in Conagra Brands during the 4th quarter worth $44,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 3.3 %

NYSE:CAG opened at $26.71 on Wednesday. The firm has a market capitalization of $12.75 billion, a P/E ratio of 26.18, a P/E/G ratio of 1.76 and a beta of 0.18. The business has a 50 day simple moving average of $25.80 and a 200 day simple moving average of $28.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Equities research analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CAG shares. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on 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. Eight research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.33.

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.