Ballentine Partners LLC Sells 11,114 Shares of Conagra Brands $CAG

Ballentine Partners LLC lowered its position in shares of Conagra Brands (NYSE:CAG) by 41.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,535 shares of the company’s stock after selling 11,114 shares during the period. Ballentine Partners LLC’s holdings in Conagra Brands were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CAG. Alpine Bank Wealth Management purchased a new position in Conagra Brands during the 1st quarter valued at about $26,000. Capital Advisors Ltd. LLC grew its position in shares of Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock worth $27,000 after buying an additional 452 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Conagra Brands during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC raised its holdings in shares of Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after acquiring an additional 741 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Conagra Brands in the first quarter worth $34,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CAG shares. UBS Group reduced their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 24th. The Goldman Sachs Group cut shares of Conagra Brands from a “neutral” rating to a “sell” rating and reduced their price target for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Sanford C. Bernstein set a $21.00 price objective on shares of Conagra Brands and gave the stock a “market perform” rating in a report on Friday, July 11th. Stifel Nicolaus cut their price objective on Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average target price of $21.83.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $18.17 on Monday. The company has a 50 day simple moving average of $19.02 and a two-hundred day simple moving average of $21.79. Conagra Brands has a fifty-two week low of $18.07 and a fifty-two week high of $32.90. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 1.75 and a beta of 0.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. Analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were paid a $0.35 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.7%. Conagra Brands’s payout ratio is presently 58.58%.

About Conagra Brands

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.