Conagra Brands, Inc. (NYSE:CAG) Shares Sold by SGL Investment Advisors Inc.

SGL Investment Advisors Inc. cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 162,965 shares of the company’s stock after selling 4,224 shares during the quarter. Conagra Brands comprises about 2.3% of SGL Investment Advisors Inc.’s investment portfolio, making the stock its 16th largest position. SGL Investment Advisors Inc.’s holdings in Conagra Brands were worth $4,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the 4th quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands in the 4th quarter worth about $29,000. Grove Bank & Trust boosted its position in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Conagra Brands in the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands in the 4th quarter valued at about $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Up 1.3%

CAG opened at $22.74 on Friday. The firm has a 50 day moving average price of $25.14 and a 200 day moving average price of $26.19. The company has a market cap of $10.86 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1 year low of $22.38 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the business earned $0.69 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.16%. The ex-dividend date is Monday, April 28th. Conagra Brands’s dividend payout ratio (DPR) is 205.88%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CAG shares. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Morgan Stanley assumed coverage on shares of Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Barclays cut their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.50.

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.