JPMorgan Chase & Co. Has $63.04 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

JPMorgan Chase & Co. reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,271,518 shares of the company’s stock after selling 1,026,604 shares during the quarter. JPMorgan Chase & Co.’s holdings in Conagra Brands were worth $63,035,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CAG. Two Sigma Advisers LP grew its holdings in shares of Conagra Brands by 106.4% in the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after purchasing an additional 3,133,200 shares during the last quarter. State Street Corp increased its holdings in shares of Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock worth $1,631,671,000 after acquiring an additional 1,132,839 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in Conagra Brands by 114.5% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company’s stock worth $53,478,000 after acquiring an additional 1,028,631 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Conagra Brands by 1,404.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 784,620 shares of the company’s stock valued at $25,516,000 after purchasing an additional 732,468 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Down 0.3 %

Shares of Conagra Brands stock opened at $26.71 on Friday. The firm has a market cap of $12.75 billion, a PE ratio of 26.19, a P/E/G ratio of 1.76 and a beta of 0.18. The business’s 50 day simple moving average is $25.74 and its 200 day simple moving average is $27.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business earned $0.69 earnings per share. Conagra Brands’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. Conagra Brands’s dividend payout ratio is 137.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAG shares. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus reduced their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target for the company. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands has an average rating of “Hold” and an average target price of $28.20.

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.