LSV Asset Management Has $214.88 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

LSV Asset Management lowered its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,560,698 shares of the company’s stock after selling 188,510 shares during the period. LSV Asset Management owned about 1.58% of Conagra Brands worth $214,875,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Conagra Brands during the 4th quarter worth $140,473,000. Charles Schwab Investment Management Inc. increased its holdings in Conagra Brands by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,857,207 shares of the company’s stock worth $81,888,000 after purchasing an additional 127,739 shares in the last quarter. Raymond James & Associates raised its position in Conagra Brands by 26.2% in the second quarter. Raymond James & Associates now owns 1,889,319 shares of the company’s stock valued at $53,694,000 after purchasing an additional 392,305 shares during the last quarter. AMF Tjanstepension AB bought a new position in Conagra Brands in the first quarter valued at about $47,980,000. Finally, Miller Howard Investments Inc. NY raised its position in Conagra Brands by 523.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after purchasing an additional 1,214,859 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.6 %

Shares of CAG stock traded up $0.21 on Friday, hitting $32.74. The company had a trading volume of 4,177,795 shares, compared to its average volume of 4,656,889. The firm has a market cap of $15.65 billion, a P/E ratio of 44.85, a P/E/G ratio of 2.86 and a beta of 0.32. The stock’s 50-day moving average is $30.08 and its two-hundred day moving average is $29.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $32.85.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 annualized dividend and a yield of 4.28%. Conagra Brands’s dividend payout ratio is currently 191.78%.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays dropped their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada dropped their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Evercore ISI dropped their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Conagra Brands has an average rating of “Hold” and an average target price of $30.90.

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.