Citigroup Inc. Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Citigroup Inc. reduced its stake in Conagra Brands, Inc. (NYSE:CAG) by 33.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 398,978 shares of the company’s stock after selling 200,529 shares during the quarter. Citigroup Inc. owned about 0.08% of Conagra Brands worth $12,975,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Aigen Investment Management LP purchased a new position in shares of Conagra Brands in the third quarter worth $1,020,000. Pacer Advisors Inc. increased its position in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Wedge Capital Management L L P NC purchased a new position in Conagra Brands in the 3rd quarter worth $3,829,000. Swedbank AB acquired a new stake in Conagra Brands during the 1st quarter worth about $18,268,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Conagra Brands during the 3rd quarter valued at about $967,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Down 0.1 %

CAG stock opened at $27.45 on Friday. 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 52-week low of $26.21 and a 52-week high of $33.24. The company’s 50-day simple moving average is $29.36 and its 200-day simple moving average is $29.83. The firm has a market cap of $13.10 billion, a P/E ratio of 26.65, a PEG ratio of 2.83 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average target price of $31.63.

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.