HBK Sorce Advisory LLC Has $313,000 Position in Conagra Brands, Inc. (NYSE:CAG)

HBK Sorce Advisory LLC cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 68.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,010 shares of the company’s stock after selling 23,772 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Conagra Brands were worth $313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAG. Principal Securities Inc. acquired a new position in shares of Conagra Brands in the 4th quarter valued at $159,000. Jump Financial LLC lifted its stake in Conagra Brands by 13.9% during the fourth quarter. Jump Financial LLC now owns 32,029 shares of the company’s stock worth $918,000 after purchasing an additional 3,904 shares during the period. Quadrant Capital Group LLC boosted its holdings in Conagra Brands by 44.2% during the fourth quarter. Quadrant Capital Group LLC now owns 10,288 shares of the company’s stock valued at $295,000 after purchasing an additional 3,151 shares in the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of Conagra Brands by 21.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 12,329 shares of the company’s stock valued at $353,000 after purchasing an additional 2,157 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in shares of Conagra Brands by 45.4% in the 4th quarter. Panagora Asset Management Inc. now owns 125,766 shares of the company’s stock worth $3,604,000 after buying an additional 39,273 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

CAG stock opened at $32.05 on Monday. The company has a 50 day moving average price of $30.47 and a 200 day moving average price of $29.89. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The stock has a market capitalization of $15.35 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. Analysts forecast that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group began coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Evercore ISI dropped their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Citigroup dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $30.78.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at $4,890,108.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by corporate insiders.

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.