Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Barclays PLC

Barclays PLC reduced its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,501,892 shares of the company’s stock after selling 39,727 shares during the quarter. Barclays PLC’s holdings in Conagra Brands were worth $48,840,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands during the 2nd quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC increased its position in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Conagra Brands during the third quarter worth approximately $47,000. Finally, Kennebec Savings Bank purchased a new position in Conagra Brands during the third quarter worth approximately $59,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $28.05 on Friday. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. 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 stock has a market cap of $13.39 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.86 and a beta of 0.31. The stock has a 50 day moving average of $28.42 and a 200-day moving average of $29.61.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS 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 firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the business posted $0.66 EPS. Conagra Brands’s revenue was down 3.8% compared to the same quarter last year. On average, analysts expect that Conagra Brands, Inc. will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.99%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAG. Bank of America lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note 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. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus target price of $31.50.

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.