Cornercap Investment Counsel Inc. Decreases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Cornercap Investment Counsel Inc. lowered its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 34.4% in the third quarter, HoldingsChannel.com reports. The fund owned 23,609 shares of the company’s stock after selling 12,364 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Conagra Brands were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CAG. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the second quarter valued at $25,000. Hexagon Capital Partners LLC lifted its position in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares in the last quarter. LRI Investments LLC purchased a new stake in Conagra Brands during the 1st quarter worth about $42,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Conagra Brands in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group assumed 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. Finally, Bank of America cut their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Trading Down 2.8 %

Shares of CAG stock opened at $26.69 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm’s 50 day moving average price is $30.20 and its two-hundred day moving average price is $30.04. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth 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 posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. On average, analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.25%. Conagra Brands’s dividend payout ratio (DPR) 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.