UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in Conagra Brands, Inc. (NYSE:CAG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,314,572 shares of the company’s stock after selling 265,668 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Conagra Brands were worth $107,790,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CAG. Innealta Capital LLC purchased a new stake in Conagra Brands in the second quarter valued at $25,000. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands in the second quarter worth about $25,000. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the third quarter worth about $47,000. Finally, Versant Capital Management Inc raised its position in shares of Conagra Brands by 637.0% in the second quarter. Versant Capital Management Inc now owns 2,093 shares of the company’s stock worth $59,000 after acquiring an additional 1,809 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $27.55 on Monday. The firm has a 50 day simple moving average of $29.17 and a 200-day simple moving average of $29.78. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.84 and a beta of 0.34.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were given a dividend of $0.35 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.08%. Conagra Brands’s payout ratio is currently 135.92%.

Wall Street Analyst Weigh In

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