PFG Investments LLC Lowers Holdings in Conagra Brands, Inc. (NYSE:CAG)

PFG Investments LLC lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,189 shares of the company’s stock after selling 732 shares during the period. PFG Investments LLC’s holdings in Conagra Brands were worth $559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP increased its position in Conagra Brands by 1,362.6% during the 2nd 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. raised its stake in Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares during the period. Assenagon Asset Management S.A. boosted its position in Conagra Brands by 2,552.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after acquiring an additional 1,241,121 shares in the last quarter. Finally, Miller Howard Investments Inc. NY increased its holdings in shares of Conagra Brands by 523.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after acquiring an additional 1,214,859 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Up 1.1 %

NYSE:CAG opened at $29.76 on Tuesday. The company has a market capitalization of $14.20 billion, a P/E ratio of 28.89, a PEG ratio of 3.03 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24. The firm has a fifty day simple moving average of $31.04 and a 200-day simple moving average of $30.25.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share 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 firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.70%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CAG. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Barclays lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note 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 research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.63.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is currently owned by corporate 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.