Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC cut its holdings in Conagra Brands, Inc. (NYSE:CAG) by 11.6% during the 3rd quarter, Holdings Channel reports. The firm owned 8,270 shares of the company’s stock after selling 1,088 shares during the period. Cable Hill Partners LLC’s holdings in Conagra Brands were worth $269,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CAG. Avantax Advisory Services Inc. grew its position in shares of Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after purchasing an additional 445 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Conagra Brands by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 502,891 shares of the company’s stock valued at $14,906,000 after buying an additional 16,003 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Conagra Brands by 13.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,774 shares of the company’s stock valued at $17,066,000 after buying an additional 70,155 shares during the period. Kingsview Wealth Management LLC lifted its stake in shares of Conagra Brands by 8.8% during the first quarter. Kingsview Wealth Management LLC now owns 8,589 shares of the company’s stock valued at $255,000 after buying an additional 695 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of Conagra Brands by 11.2% during the first quarter. Blair William & Co. IL now owns 227,777 shares of the company’s stock valued at $6,751,000 after buying an additional 22,980 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts 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 Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Bank of America reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Six 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.63.

Conagra Brands Price Performance

Conagra Brands stock opened at $27.46 on Friday. Conagra Brands, Inc. has a 52-week low of $26.62 and a 52-week high of $33.24. The firm has a fifty day moving average of $30.32 and a 200-day moving average of $30.07. The firm has a market capitalization of $13.10 billion, a P/E ratio of 26.66, a PEG ratio of 2.85 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. As a group, 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. Stockholders of record on Thursday, October 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is currently 135.92%.

Conagra Brands 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.