Oppenheimer Asset Management Inc. Reduces Stake in Conagra Brands, Inc. (NYSE:CAG)

Oppenheimer Asset Management Inc. trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 118,134 shares of the company’s stock after selling 55,644 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Conagra Brands were worth $3,278,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CAG. Pacer Advisors Inc. raised its position in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Conagra Brands by 106.4% during 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. Holocene Advisors LP purchased a new stake in Conagra Brands in the 3rd quarter valued at approximately $65,932,000. State Street Corp grew its holdings in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after buying an additional 1,691,945 shares during the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new position in Conagra Brands during the third quarter worth $46,990,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

NYSE CAG opened at $25.54 on Friday. The firm has a market capitalization of $12.19 billion, a PE ratio of 25.04, a P/E/G ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The company’s 50 day simple moving average is $25.98 and its 200 day simple moving average is $28.37.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Monday, January 27th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.48%. The ex-dividend date was Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.25%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Citigroup decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Stifel Nicolaus lowered their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.67.

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.