Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 70.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,291 shares of the company’s stock after purchasing an additional 30,215 shares during the quarter. Wellington Management Group LLP’s holdings in Conagra Brands were worth $2,383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAG. Worldquant Millennium Advisors LLC increased its stake in shares of Conagra Brands by 43.2% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,181,629 shares of the company’s stock worth $38,427,000 after buying an additional 356,226 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after acquiring an additional 3,133,200 shares in the last quarter. State Street Corp increased its position in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Conagra Brands in the 3rd quarter valued at about $414,000. Finally, Quantinno Capital Management LP lifted its position in shares of Conagra Brands by 171.2% during the third quarter. Quantinno Capital Management LP now owns 315,422 shares of the company’s stock worth $10,258,000 after purchasing an additional 199,119 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company dropped their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday. 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 Thursday, October 3rd. Bank of America lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Finally, Citigroup reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $31.38.

Conagra Brands Stock Performance

CAG stock opened at $27.90 on Wednesday. The company has a 50-day simple moving average of $28.35 and a 200 day simple moving average of $29.57. The company has a market capitalization of $13.31 billion, a P/E ratio of 27.08, a PEG ratio of 2.91 and a beta of 0.31. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts predict that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is 135.92%.

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.