Foster & Motley Inc. Sells 11,066 Shares of Conagra Brands, Inc. (NYSE:CAG)

Foster & Motley Inc. lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 14.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 67,245 shares of the company’s stock after selling 11,066 shares during the quarter. Foster & Motley Inc.’s holdings in Conagra Brands were worth $1,927,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in Conagra Brands by 188.3% in the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock valued at $4,395,000 after acquiring an additional 100,141 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Conagra Brands by 120.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock valued at $23,572,000 after acquiring an additional 469,421 shares during the last quarter. Adams Asset Advisors LLC bought a new position in Conagra Brands in the 4th quarter valued at $7,690,000. Assenagon Asset Management S.A. grew its position in Conagra Brands by 368.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock valued at $29,126,000 after acquiring an additional 799,175 shares during the last quarter. Finally, Invesco Ltd. grew its position in Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after acquiring an additional 2,619,372 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $31.27 on Tuesday. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 3.07 and a beta of 0.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The business’s 50 day moving average price is $28.90 and its 200 day moving average price is $28.57.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business posted $0.76 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, research analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.48%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Barclays increased their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Citigroup increased their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 3rd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.14.

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.