AdvisorNet Financial Inc Lowers Stock Position in Conagra Brands, Inc. (NYSE:CAG)

AdvisorNet Financial Inc reduced its stake in Conagra Brands, Inc. (NYSE:CAGGet Rating) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,743 shares of the company’s stock after selling 1,015 shares during the quarter. AdvisorNet Financial Inc’s holdings in Conagra Brands were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hazlett Burt & Watson Inc. purchased a new position in shares of Conagra Brands during the first quarter worth approximately $31,000. Clearstead Advisors LLC raised its stake in shares of Conagra Brands by 60.1% during the first quarter. Clearstead Advisors LLC now owns 996 shares of the company’s stock worth $33,000 after acquiring an additional 374 shares in the last quarter. Fieldpoint Private Securities LLC raised its stake in shares of Conagra Brands by 238.6% during the first quarter. Fieldpoint Private Securities LLC now owns 1,080 shares of the company’s stock worth $36,000 after acquiring an additional 761 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Conagra Brands by 41.3% during the first quarter. Lindbrook Capital LLC now owns 1,198 shares of the company’s stock worth $40,000 after acquiring an additional 350 shares in the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of Conagra Brands during the first quarter worth approximately $52,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

NYSE:CAG opened at $33.83 on Monday. The stock has a market cap of $16.24 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The firm’s fifty day simple moving average is $34.38 and its 200 day simple moving average is $33.91. Conagra Brands, Inc. has a twelve month low of $30.06 and a twelve month high of $36.97. The company has a quick ratio of 0.31, a current ratio of 0.86 and a debt-to-equity ratio of 0.91.

Conagra Brands (NYSE:CAGGet Rating) last released its quarterly earnings results on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a net margin of 7.70% and a return on equity of 12.99%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. As a group, research analysts predict that Conagra Brands, Inc. will post 2.41 EPS for the current year.

Conagra Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 3rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Tuesday, August 2nd. This is a boost from Conagra Brands’s previous quarterly dividend of $0.31. Conagra Brands’s payout ratio is 71.74%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. Credit Suisse Group cut their target price on shares of Conagra Brands from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. Citigroup cut their target price on shares of 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 target price on shares of Conagra Brands from $35.00 to $32.00 in a report on Friday, July 15th. Finally, UBS Group raised their target price on shares of Conagra Brands from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, July 8th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.67.

Insider Activity

In other Conagra Brands news, Director Emanuel Chirico bought 30,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were purchased at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the acquisition, the director now owns 40,788 shares in the company, valued at approximately $1,389,239.28. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, COO Thomas M. Mcgough sold 21,405 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $35.40, for a total transaction of $757,737.00. Following the sale, the chief operating officer now owns 104,859 shares in the company, valued at approximately $3,712,008.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Emanuel Chirico bought 30,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were acquired at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the acquisition, the director now owns 40,788 shares in the company, valued at approximately $1,389,239.28. The disclosure for this purchase can be found here. Company insiders own 0.98% of the company’s stock.

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 in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

Read More

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

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.