Savant Capital LLC cut its holdings in shares of Conagra Brands (NYSE:CAG – Free Report) by 89.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,861 shares of the company’s stock after selling 91,561 shares during the period. Savant Capital LLC’s holdings in Conagra Brands were worth $188,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Moors & Cabot Inc. acquired a new stake in shares of Conagra Brands during the 4th quarter valued at about $275,000. Bleakley Financial Group LLC lifted its stake in Conagra Brands by 116.0% in the 4th quarter. Bleakley Financial Group LLC now owns 48,592 shares of the company’s stock valued at $841,000 after buying an additional 26,100 shares in the last quarter. Harbour Investments Inc. lifted its stake in Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after buying an additional 701 shares in the last quarter. Summitry LLC lifted its stake in Conagra Brands by 24.8% in the 4th quarter. Summitry LLC now owns 22,635 shares of the company’s stock valued at $392,000 after buying an additional 4,492 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Conagra Brands by 12.7% in the 4th quarter. Hantz Financial Services Inc. now owns 7,047 shares of the company’s stock valued at $122,000 after buying an additional 794 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on CAG shares. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. Weiss Ratings lowered shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Morgan Stanley decreased their price target on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group decreased their price target on shares of Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Reduce” and a consensus price target of $14.67.
Conagra Brands Trading Up 1.0%
CAG opened at $13.15 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The company’s 50 day simple moving average is $14.23 and its two-hundred day simple moving average is $16.45. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $22.58. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of -131.44 and a beta of -0.02.
Conagra Brands (NYSE:CAG – Get Free Report) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the business earned $0.51 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Analysts expect that Conagra Brands will post 1.7 EPS for the current fiscal year.
Conagra Brands Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date of this dividend was Thursday, April 30th. Conagra Brands’s dividend payout ratio (DPR) is -1,400.00%.
Insider Buying and Selling
In other Conagra Brands news, Director Richard H. Lenny bought 25,000 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were acquired at an average cost of $14.34 per share, with a total value of $358,500.00. Following the purchase, the director directly owned 229,340 shares of the company’s stock, valued at $3,288,735.60. This trade represents a 12.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John J. Mulligan purchased 17,500 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were purchased at an average price of $14.31 per share, with a total value of $250,425.00. Following the acquisition, the director directly owned 20,728 shares in the company, valued at approximately $296,617.68. The trade was a 542.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.57% of the company’s stock.
Conagra Brands Company Profile
Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.
Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.
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