Courier Capital LLC Sells 463 Shares of Conagra Brands, Inc. (NYSE:CAG)

Courier Capital LLC trimmed its position in Conagra Brands, Inc. (NYSE:CAG) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,269 shares of the company’s stock after selling 463 shares during the quarter. Courier Capital LLC’s holdings in Conagra Brands were worth $779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in shares of Conagra Brands by 188.3% during the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after purchasing an additional 100,141 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Conagra Brands by 316.6% during the 4th quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after acquiring an additional 117,042 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Conagra Brands by 120.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after acquiring an additional 469,421 shares in the last quarter. Valley Wealth Managers Inc. boosted its position in shares of Conagra Brands by 7.7% during the 4th quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after acquiring an additional 37,149 shares in the last quarter. Finally, Adams Asset Advisors LLC acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $7,690,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.88% of the stock is currently owned by corporate insiders.

Conagra Brands Price Performance

CAG stock opened at $28.42 on Friday. The company has a fifty day moving average price of $29.98 and a 200-day moving average price of $29.27. The company has a market capitalization of $13.59 billion, a P/E ratio of 14.28, a PEG ratio of 2.75 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $34.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 earnings per share. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s payout ratio is currently 70.35%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAG. Citigroup reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Stifel Nicolaus increased their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Finally, Barclays increased their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.00.

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.