Concurrent Investment Advisors LLC Trims Holdings in Conagra Brands, Inc. (NYSE:CAG)

Concurrent Investment Advisors LLC cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,785 shares of the company’s stock after selling 785 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Conagra Brands were worth $743,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brookstone Capital Management grew its position in shares of Conagra Brands by 18.4% in the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after purchasing an additional 62,187 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after buying an additional 19,329 shares during the period. State of Alaska Department of Revenue grew its holdings in Conagra Brands by 41.0% in the 4th quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock valued at $2,175,000 after buying an additional 22,790 shares during the period. Nordea Investment Management AB grew its holdings in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after buying an additional 618,096 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Conagra Brands in the 3rd quarter valued at about $1,020,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 3.9 %

NYSE CAG opened at $25.82 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company’s 50 day simple moving average is $26.15 and its 200 day simple moving average is $28.52. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The company has a market capitalization of $12.32 billion, a P/E ratio of 25.31, a PEG ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last announced its earnings results 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 company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 earnings per share. Equities research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Stifel Nicolaus decreased their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Finally, Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus price target 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.