Cambridge Investment Research Advisors Inc. Decreases Holdings in Conagra Brands, Inc. (NYSE:CAG)

Cambridge Investment Research Advisors Inc. cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 120,441 shares of the company’s stock after selling 3,913 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Conagra Brands were worth $3,423,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CAG. Kestra Private Wealth Services LLC raised its stake in Conagra Brands by 17.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 42,423 shares of the company’s stock valued at $1,216,000 after buying an additional 6,177 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new stake in Conagra Brands during the 4th quarter valued at $214,000. First Trust Direct Indexing L.P. grew its position in shares of Conagra Brands by 42.3% during the 4th quarter. First Trust Direct Indexing L.P. now owns 18,751 shares of the company’s stock valued at $537,000 after acquiring an additional 5,578 shares during the period. West Family Investments Inc. bought a new stake in shares of Conagra Brands during the 4th quarter valued at $234,000. Finally, First Horizon Advisors Inc. grew its position in shares of Conagra Brands by 38.0% during the 4th quarter. First Horizon Advisors Inc. now owns 7,811 shares of the company’s stock valued at $224,000 after acquiring an additional 2,149 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 0.5 %

Shares of Conagra Brands stock opened at $31.20 on Friday. The company has a market capitalization of $14.92 billion, a P/E ratio of 42.74, a P/E/G ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $31.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The company has a fifty day moving average of $29.73 and a 200 day moving average of $29.55.

Conagra Brands (NYSE:CAG) last announced its quarterly 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. 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 2.88% and a return on equity of 14.31%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.49%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s payout ratio is currently 191.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CAG shares. Royal Bank of Canada cut their price objective on shares of 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. Barclays cut their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Stifel Nicolaus cut their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $30.90.

Insiders Place Their Bets

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.