Hummer Financial Advisory Services Inc Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Hummer Financial Advisory Services Inc lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,480 shares of the company’s stock after selling 500 shares during the period. Hummer Financial Advisory Services Inc’s holdings in Conagra Brands were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position 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 acquiring an additional 10,604,367 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after purchasing an additional 3,133,200 shares during the period. Marshall Wace LLP grew its holdings in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the period. Holocene Advisors LP purchased a new stake in shares of Conagra Brands in the 3rd quarter valued at approximately $65,932,000. Finally, State Street Corp lifted its holdings in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after acquiring an additional 1,691,945 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG opened at $26.31 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1-year low of $25.85 and a 1-year high of $33.24. The stock has a market cap of $12.56 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29. The firm has a fifty day moving average price of $27.48 and a 200 day moving average price of $29.32.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.58 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.32%. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Wall Street Analyst Weigh In

CAG has been the topic of a number of research reports. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $30.56.

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.