Private Advisor Group LLC Sells 8,627 Shares of Conagra Brands, Inc. (NYSE:CAG)

Private Advisor Group LLC lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,287 shares of the company’s stock after selling 8,627 shares during the quarter. Private Advisor Group LLC’s holdings in Conagra Brands were worth $3,227,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Conagra Brands by 21,015.0% during the 3rd 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. Two Sigma Advisers LP raised its position in shares of Conagra Brands by 106.4% during the third 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. Holocene Advisors LP bought a new position in shares of Conagra Brands in the 3rd quarter worth $65,932,000. State Street Corp grew its position in Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the period. Finally, Ilex Capital Partners UK LLP bought a new stake in Conagra Brands during the 3rd quarter valued at $46,990,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 3.9 %

Shares of NYSE CAG opened at $25.82 on Monday. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The business’s fifty day moving average price is $26.15 and its 200-day moving average price is $28.52. The stock has a market capitalization of $12.32 billion, a PE ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.42%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Citigroup lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Wells Fargo & Company cut their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Seven 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.78.

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.