Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Telos Capital Management Inc.

Telos Capital Management Inc. cut its position in Conagra Brands, Inc. (NYSE:CAG) by 9.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,249 shares of the company’s stock after selling 838 shares during the period. Telos Capital Management Inc.’s holdings in Conagra Brands were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Marshall Wace LLP boosted its holdings in Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after purchasing an additional 2,242,186 shares during the period. Federated Hermes Inc. boosted its holdings in Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. AMF Tjanstepension AB purchased a new position in Conagra Brands in the first quarter valued at $47,980,000. Squarepoint Ops LLC boosted its holdings in Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after purchasing an additional 1,513,726 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its holdings in Conagra Brands by 523.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after purchasing an additional 1,214,859 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CAG. Wells Fargo & Company lifted their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Barclays decreased their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Performance

Shares of CAG stock opened at $29.49 on Wednesday. The stock has a market capitalization of $14.10 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $26.62 and a 52-week high of $33.24. The stock’s 50-day moving average price is $31.14 and its 200 day moving average price is $30.30. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm earned $0.66 EPS. The business’s revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.75%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is 191.78%.

Insiders Place Their Bets

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 $4,890,108.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

Conagra Brands Company 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.