Conagra Brands $CAG Position Reduced by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its stake in shares of Conagra Brands (NYSE:CAG) by 89.8% during the fourth quarter, HoldingsChannel reports. The fund owned 5,280 shares of the company’s stock after selling 46,395 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Conagra Brands were worth $92,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Conagra Brands by 24.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock worth $11,442,000 after buying an additional 131,287 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Conagra Brands by 45.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock worth $6,485,000 after buying an additional 106,891 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Conagra Brands by 153.4% in the 4th quarter. Sound Income Strategies LLC now owns 406,666 shares of the company’s stock worth $6,897,000 after buying an additional 246,178 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Conagra Brands by 13.7% in the 3rd quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock worth $13,185,000 after buying an additional 86,604 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Conagra Brands by 15.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,021,478 shares of the company’s stock worth $55,323,000 after buying an additional 408,597 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CAG. Evercore reduced their price target on shares of Conagra Brands from $19.00 to $18.00 in a research report on Thursday, April 2nd. TD Cowen reduced their price target on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, March 25th. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Sanford C. Bernstein reduced their price target on shares of Conagra Brands from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, April 2nd. Finally, Stifel Nicolaus reduced their price target on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $15.60.

Conagra Brands Trading Up 0.0%

Shares of NYSE:CAG opened at $13.57 on Monday. The company has a market cap of $6.49 billion and a PE ratio of -135.64. The company’s 50-day moving average price is $14.80 and its 200 day moving average price is $16.77. Conagra Brands has a fifty-two week low of $13.14 and a fifty-two week high of $23.09. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. Sell-side analysts anticipate that Conagra Brands will post 1.7 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a yield of 10.3%. Conagra Brands’s dividend payout ratio (DPR) is currently -1,400.00%.

Insider Activity

In other news, Director John J. Mulligan acquired 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the transaction, the director directly owned 20,728 shares in the company, valued at $296,617.68. This trade represents a 542.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Lenny acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the transaction, the director owned 229,340 shares in the company, valued at $3,288,735.60. The trade was a 12.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.