abrdn plc Sells 3,709 Shares of Conagra Brands, Inc. (NYSE:CAG)

abrdn plc trimmed its holdings in Conagra Brands, Inc. (NYSE:CAGGet Rating) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,708 shares of the company’s stock after selling 3,709 shares during the quarter. abrdn plc’s holdings in Conagra Brands were worth $4,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sage Private Wealth Group LLC bought a new stake in shares of Conagra Brands in the second quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Conagra Brands in the first quarter valued at approximately $31,000. Clearstead Advisors LLC lifted its position in Conagra Brands by 60.1% in the first quarter. Clearstead Advisors LLC now owns 996 shares of the company’s stock worth $33,000 after purchasing an additional 374 shares during the period. MCF Advisors LLC bought a new position in Conagra Brands in the first quarter worth $52,000. Finally, Benjamin Edwards Inc. lifted its position in Conagra Brands by 146.4% in the first quarter. Benjamin Edwards Inc. now owns 1,690 shares of the company’s stock worth $57,000 after purchasing an additional 1,004 shares during the period. 83.79% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $35.98 on Monday. Conagra Brands, Inc. has a 52-week low of $30.06 and a 52-week high of $36.97. The firm has a market capitalization of $17.24 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.45 and a beta of 0.60. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.24. The stock has a fifty day moving average price of $34.37 and a two-hundred day moving average price of $34.20.

Conagra Brands (NYSE:CAGGet Rating) last announced its earnings results on Thursday, October 6th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Conagra Brands had a return on equity of 13.40% and a net margin of 4.88%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.44 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 3rd will be paid a $0.33 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.67%. Conagra Brands’s dividend payout ratio (DPR) is presently 110.92%.

Analysts Set New Price Targets

Several research analysts recently commented on CAG shares. Citigroup reduced their target price on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft raised their target price on Conagra Brands from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Friday, October 7th. TheStreet raised Conagra Brands from a “c+” rating to a “b-” rating in a research report on Friday, October 28th. Credit Suisse Group reduced their target price on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. Finally, Morgan Stanley dropped their price objective on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, July 15th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.14.

Insider Activity

In other news, COO Thomas M. Mcgough sold 21,405 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total value of $757,737.00. Following the completion of the sale, the chief operating officer now directly owns 104,859 shares in the company, valued at $3,712,008.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Thomas M. Mcgough sold 21,405 shares of Conagra Brands stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total value of $757,737.00. Following the completion of the sale, the chief operating officer now directly owns 104,859 shares in the company, valued at $3,712,008.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Carey Bartell sold 6,408 shares of Conagra Brands stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $34.50, for a total value of $221,076.00. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Conagra Brands Profile

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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.

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

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