Private Advisor Group LLC Reduces Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Private Advisor Group LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 116,287 shares of the company’s stock after selling 8,627 shares during the period. Private Advisor Group LLC’s holdings in Conagra Brands were worth $3,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands in the 4th quarter worth about $28,000. Grove Bank & Trust boosted its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands in the fourth quarter worth $44,000. Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands during the third quarter valued at $47,000. Finally, Asset Planning Inc purchased a new position in shares of Conagra Brands in the 4th quarter worth about $53,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 3.9 %

Shares of Conagra Brands stock opened at $25.82 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The business has a 50-day moving average price of $26.15 and a 200-day moving average price of $28.52.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.42%. Conagra Brands’s dividend payout ratio (DPR) is currently 137.25%.

Analysts Set New Price Targets

Several brokerages recently commented on CAG. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Stifel Nicolaus reduced their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Seven research 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 company. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $29.78.

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.