Worldquant Millennium Advisors LLC Has $13.21 Million Stake in Conagra Brands, Inc. (NYSE:CAG)

Worldquant Millennium Advisors LLC trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 59.7% in the fourth quarter, Holdings Channel reports. The fund owned 476,033 shares of the company’s stock after selling 705,596 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Conagra Brands were worth $13,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAG. Bessemer Group Inc. raised its stake in Conagra Brands by 0.6% in the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock valued at $2,166,000 after buying an additional 429 shares during the period. Summit Financial Wealth Advisors LLC raised its stake in Conagra Brands by 1.3% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock valued at $1,030,000 after buying an additional 500 shares during the period. CIBC Asset Management Inc raised its stake in Conagra Brands by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after buying an additional 501 shares during the period. Xponance Inc. raised its stake in Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after buying an additional 505 shares during the period. Finally, International Private Wealth Advisors LLC raised its stake in Conagra Brands by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after buying an additional 527 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on 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. Stifel Nicolaus lowered their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Barclays lowered their target price on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered their target price on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.50.

Conagra Brands Price Performance

Conagra Brands stock opened at $22.48 on Thursday. The stock’s fifty day moving average price is $24.89 and its two-hundred day moving average price is $26.02. Conagra Brands, Inc. has a one year low of $22.38 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market cap of $10.73 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands’s dividend payout ratio is presently 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.