Assetmark Inc. Lowers Holdings in Conagra Brands, Inc. (NYSE:CAG)

Assetmark Inc. trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 89.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,593 shares of the company’s stock after selling 30,401 shares during the period. Assetmark Inc.’s holdings in Conagra Brands were worth $117,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Federated Hermes Inc. increased its holdings in Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after buying an additional 633,794 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares in the last quarter. Marshall Wace LLP increased its holdings in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Conagra Brands by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after buying an additional 78,487 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Down 2.7 %

Shares of NYSE:CAG opened at $26.70 on Monday. The stock has a 50 day moving average of $30.20 and a 200 day moving average of $30.03. The company has a market cap of $12.74 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.24%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analyst Upgrades and Downgrades

CAG has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Wells Fargo & Company boosted their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Bank of America cut their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.