Graypoint LLC Decreases Stake in Conagra Brands, Inc. (NYSE:CAG)

Graypoint LLC lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 9.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,978 shares of the company’s stock after selling 762 shares during the quarter. Graypoint LLC’s holdings in Conagra Brands were worth $227,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after purchasing an additional 54,195 shares during the period. SG Americas Securities LLC boosted its holdings in Conagra Brands by 261.3% in the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock worth $4,360,000 after acquiring an additional 106,368 shares during the period. M&G Plc purchased a new position in Conagra Brands in the 1st quarter worth approximately $7,429,000. UniSuper Management Pty Ltd boosted its holdings in Conagra Brands by 573.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after acquiring an additional 32,396 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in Conagra Brands in the 3rd quarter worth approximately $3,829,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of analyst reports. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Bank of America cut their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, 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 Thursday, October 3rd. Six 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Performance

CAG stock opened at $28.44 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm has a market cap of $13.57 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.98 and a beta of 0.34. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24. The stock’s 50 day simple moving average is $30.67 and its 200 day simple moving average is $30.16.

Conagra Brands (NYSE:CAG) last issued its 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 return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the business earned $0.66 earnings per share. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

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.