Federated Hermes Inc. Has $1.84 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Federated Hermes Inc. grew its stake in Conagra Brands, Inc. (NYSE:CAG) by 36.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,435 shares of the company’s stock after purchasing an additional 17,827 shares during the quarter. Federated Hermes Inc.’s holdings in Conagra Brands were worth $1,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CAG. Grove Bank & Trust increased its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after acquiring an additional 501 shares during the last quarter. Xponance Inc. increased its stake in shares of Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after acquiring an additional 505 shares during the last quarter. International Private Wealth Advisors LLC raised its position in shares of Conagra Brands by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after acquiring an additional 527 shares during the period. Finally, ST Germain D J Co. Inc. boosted its stake in Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and decreased their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Finally, Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.90.

Conagra Brands Price Performance

NYSE CAG opened at $25.97 on Monday. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The firm’s 50 day moving average is $25.71 and its 200-day moving average is $27.10. The company has a market capitalization of $12.40 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 5.39%. Conagra Brands’s dividend payout ratio is 205.88%.

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.