Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 752,649 shares of the company’s stock after selling 60,844 shares during the period. Victory Capital Management Inc.’s holdings in Conagra Brands were worth $20,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CAG. Pacer Advisors Inc. raised its position in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after acquiring an additional 3,133,200 shares during the period. Holocene Advisors LP bought a new stake in Conagra Brands during the third quarter worth approximately $65,932,000. State Street Corp lifted its position in Conagra Brands by 7.4% in the third 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 period. Finally, Ilex Capital Partners UK LLP bought a new position in Conagra Brands during the 3rd quarter valued at $46,990,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CAG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on shares of 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. Barclays cut their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Bank of America decreased 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 Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average price target of $28.33.

Conagra Brands Stock Performance

Shares of CAG stock opened at $26.71 on Wednesday. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $25.80 and its 200-day simple moving average is $28.15.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

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

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.