Concurrent Investment Advisors LLC Sells 785 Shares of Conagra Brands, Inc. (NYSE:CAG)

Concurrent Investment Advisors LLC lessened its position in Conagra Brands, Inc. (NYSE:CAG) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,785 shares of the company’s stock after selling 785 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Conagra Brands were worth $743,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in shares of 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 acquiring an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP lifted 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 last quarter. Holocene Advisors LP bought a new stake in shares of Conagra Brands during the third quarter worth $65,932,000. State Street Corp lifted its holdings in Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after buying an additional 1,691,945 shares in the last quarter. Finally, Ilex Capital Partners UK LLP bought a new stake in Conagra Brands during the 3rd quarter valued at about $46,990,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 3.9 %

Shares of NYSE CAG opened at $25.82 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $26.15 and a 200 day moving average of $28.52. The stock has a market cap of $12.32 billion, a PE ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Conagra Brands’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.42%. Conagra Brands’s dividend payout ratio is currently 137.25%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CAG shares. Barclays decreased their price target 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. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Seven investment 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.78.

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.