Old Port Advisors Sells 1,732 Shares of Conagra Brands, Inc. (NYSE:CAG)

Old Port Advisors trimmed its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,413 shares of the company’s stock after selling 1,732 shares during the quarter. Old Port Advisors’ holdings in Conagra Brands were worth $2,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Courier Capital LLC raised its position in Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after purchasing an additional 355 shares during the last quarter. CWM LLC lifted its stake in shares of Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after purchasing an additional 359 shares during the period. Empirical Finance LLC boosted its position in shares of Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after purchasing an additional 362 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after purchasing an additional 376 shares during the period. Finally, Bridgewater Advisors Inc. increased its holdings in Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after purchasing an additional 376 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company decreased their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Finally, Citigroup dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.75.

Conagra Brands Stock Up 0.2 %

CAG traded up $0.05 during mid-day trading on Thursday, reaching $27.80. 652,013 shares of the stock were exchanged, compared to its average volume of 4,805,991. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The stock has a market capitalization of $13.27 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. The company has a 50 day moving average price of $27.87 and a two-hundred day moving average price of $29.43.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.58 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is currently 137.25%.

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.