Steward Partners Investment Advisory LLC Trims Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Steward Partners Investment Advisory LLC trimmed its holdings in Conagra Brands, Inc. (NYSE:CAGGet Rating) by 2.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,976 shares of the company’s stock after selling 527 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Conagra Brands were worth $603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAG. National Bank of Canada FI purchased a new stake in shares of Conagra Brands in the fourth quarter worth approximately $1,555,000. Van ECK Associates Corp increased its holdings in Conagra Brands by 104.7% during the 4th quarter. Van ECK Associates Corp now owns 7,222 shares of the company’s stock worth $247,000 after purchasing an additional 3,694 shares during the period. Janney Montgomery Scott LLC increased its holdings in Conagra Brands by 5.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 105,099 shares of the company’s stock worth $3,589,000 after purchasing an additional 5,165 shares during the period. State of Michigan Retirement System increased its holdings in Conagra Brands by 12.9% during the 4th quarter. State of Michigan Retirement System now owns 146,603 shares of the company’s stock worth $5,006,000 after purchasing an additional 16,786 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Conagra Brands by 16.0% during the 4th quarter. Bessemer Group Inc. now owns 17,860 shares of the company’s stock worth $610,000 after purchasing an additional 2,466 shares during the period. 83.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Emanuel Chirico acquired 30,000 shares of Conagra Brands stock in a transaction on Monday, July 25th. The stock was acquired at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the purchase, the director now owns 40,788 shares of the company’s stock, valued at approximately $1,389,239.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Conagra Brands Stock Down 1.3 %

Conagra Brands stock opened at $33.38 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 2.01 and a beta of 0.61. Conagra Brands, Inc. has a 1-year low of $30.06 and a 1-year high of $36.97. The business has a fifty day moving average price of $33.22 and a 200-day moving average price of $34.08.

Conagra Brands (NYSE:CAGGet Rating) last posted its quarterly earnings data on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.41 EPS for the current fiscal year.

Conagra Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.95%. This is a boost from Conagra Brands’s previous quarterly dividend of $0.31. Conagra Brands’s payout ratio is currently 67.94%.

Analysts Set New Price Targets

Several research firms have commented on CAG. Morgan Stanley reduced their price objective on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. Citigroup reduced their price objective on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft cut their price target on Conagra Brands from $35.00 to $32.00 in a report on Friday, July 15th. Credit Suisse Group cut their price target on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. Finally, UBS Group lifted their price target on Conagra Brands from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, July 8th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $35.67.

Conagra Brands Profile

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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