Old Port Advisors Sells 1,732 Shares of Conagra Brands, Inc. (NYSE:CAG)

Old Port Advisors lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 2.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 85,413 shares of the company’s stock after selling 1,732 shares during the quarter. Old Port Advisors’ holdings in Conagra Brands were worth $2,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Courier Capital LLC grew its stake in Conagra Brands by 1.3% in the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after buying an additional 355 shares in the last quarter. CWM LLC increased its position in shares of Conagra Brands by 0.4% during the third quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after buying an additional 359 shares during the period. Empirical Finance LLC lifted its holdings in shares of Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after buying an additional 362 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Conagra Brands by 0.7% in the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after acquiring an additional 376 shares during the period. Finally, Bridgewater Advisors Inc. grew its stake in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after acquiring an additional 376 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAG. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Wells Fargo & Company lowered their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, BNP Paribas upgraded 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.75.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.05 during trading on Thursday, hitting $27.80. 652,013 shares of the stock traded hands, compared to its average volume of 4,805,991. The stock has a market cap of $13.27 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.91 and a beta of 0.31. 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, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The firm’s fifty day moving average is $27.87 and its 200-day moving average is $29.43.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Research analysts expect that Conagra Brands, Inc. will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is presently 137.25%.

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.