TD Private Client Wealth LLC Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

TD Private Client Wealth LLC reduced its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 97.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,344 shares of the company’s stock after selling 80,114 shares during the period. TD Private Client Wealth LLC’s holdings in Conagra Brands were worth $76,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after buying an additional 19,329 shares during the period. Aigen Investment Management LP purchased a new stake in Conagra Brands in the third quarter worth about $1,020,000. Pacer Advisors Inc. lifted its holdings in Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares during the period. Swedbank AB lifted its holdings in Conagra Brands by 3.1% in the third quarter. Swedbank AB now owns 674,465 shares of the company’s stock worth $21,934,000 after buying an additional 20,384 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in Conagra Brands in the third quarter worth about $3,829,000. 83.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on CAG shares. 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 report on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised their price objective 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 reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Citigroup lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Six equities research 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, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $28.20 on Monday. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The firm has a market cap of $13.46 billion, a P/E ratio of 27.38, a PEG ratio of 2.86 and a beta of 0.31. The company has a 50 day moving average of $28.40 and a 200 day moving average of $29.59. 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 announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. As a group, research analysts expect that Conagra Brands, Inc. will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.96%. 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.