First Allied Advisory Services Inc. Decreases Stake in Conagra Brands Inc (NYSE:CAG)

First Allied Advisory Services Inc. reduced its stake in shares of Conagra Brands Inc (NYSE:CAG) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,237 shares of the company’s stock after selling 526 shares during the period. First Allied Advisory Services Inc.’s holdings in Conagra Brands were worth $404,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Conagra Brands by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 54,855,180 shares of the company’s stock worth $1,454,759,000 after buying an additional 874,779 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth $324,440,000. Invesco Ltd. raised its stake in shares of Conagra Brands by 107.2% during the 2nd quarter. Invesco Ltd. now owns 6,661,440 shares of the company’s stock worth $176,663,000 after buying an additional 3,445,854 shares during the last quarter. Northern Trust Corp raised its stake in shares of Conagra Brands by 1.7% during the 2nd quarter. Northern Trust Corp now owns 5,922,217 shares of the company’s stock worth $157,056,000 after buying an additional 100,250 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Conagra Brands by 4.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,880,276 shares of the company’s stock worth $102,905,000 after buying an additional 167,771 shares during the last quarter. 85.98% of the stock is owned by institutional investors and hedge funds.

In other news, COO Thomas M. Mcgough sold 26,099 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.00, for a total transaction of $809,069.00. Following the completion of the transaction, the chief operating officer now owns 145,869 shares of the company’s stock, valued at approximately $4,521,939. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Colleen Batcheler sold 25,458 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.00, for a total transaction of $763,740.00. Following the transaction, the executive vice president now directly owns 169,873 shares of the company’s stock, valued at approximately $5,096,190. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Shares of CAG stock opened at $29.49 on Thursday. The firm has a 50-day moving average price of $27.93 and a 200 day moving average price of $28.56. Conagra Brands Inc has a twelve month low of $20.22 and a twelve month high of $33.42. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.94 and a beta of 0.84. The company has a current ratio of 1.11, a quick ratio of 0.40 and a debt-to-equity ratio of 1.37.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 26th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, research analysts predict that Conagra Brands Inc will post 2.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 1st will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is 42.29%.

CAG has been the subject of several research reports. Citigroup lifted their price target on Conagra Brands from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays set a $33.00 price target on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada initiated coverage on Conagra Brands in a research note on Thursday, October 17th. They set a “sector perform” rating and a $30.00 price target for the company. Credit Suisse Group reaffirmed a “hold” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, September 19th. Finally, Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $31.00 in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Conagra Brands presently has a consensus rating of “Buy” and a consensus target price of $33.00.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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