MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 32,495 Shares of Conagra Brands, Inc. (NYSE:CAG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Conagra Brands, Inc. (NYSE:CAG) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,314 shares of the company’s stock after buying an additional 32,495 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Conagra Brands were worth $4,525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands in the fourth quarter valued at $28,000. Wedge Capital Management L L P NC raised its stake in shares of Conagra Brands by 10.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 130,098 shares of the company’s stock valued at $3,610,000 after buying an additional 12,363 shares during the period. Merit Financial Group LLC bought a new stake in shares of Conagra Brands in the fourth quarter valued at $275,000. Arkadios Wealth Advisors raised its stake in shares of Conagra Brands by 1.1% in the fourth quarter. Arkadios Wealth Advisors now owns 53,369 shares of the company’s stock valued at $1,481,000 after buying an additional 600 shares during the period. Finally, Grove Bank & Trust raised its stake in shares of 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 buying an additional 447 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $22.97 on Monday. The firm has a market capitalization of $10.96 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $25.07 and its two-hundred day simple moving average is $26.10. Conagra Brands, Inc. has a twelve month low of $22.38 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $2.84 billion during 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%. Conagra Brands’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders 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 6.10%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands’s payout ratio is currently 205.88%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CAG. 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. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective on the stock. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Barclays decreased their price objective 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. Finally, Wells Fargo & Company decreased their price objective 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. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.50.

About Conagra Brands

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.