Conagra Brands, Inc. (NYSE:CAG) Stake Reduced by Tredje AP fonden

Tredje AP fonden trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,649 shares of the company’s stock after selling 2,200 shares during the quarter. Tredje AP fonden’s holdings in Conagra Brands were worth $4,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. lifted its stake in Conagra Brands by 7.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after purchasing an additional 373 shares during the last quarter. Czech National Bank lifted its position in shares of Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after acquiring an additional 392 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Conagra Brands by 5.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock worth $226,000 after acquiring an additional 403 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its stake in shares of Conagra Brands by 1.1% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after acquiring an additional 430 shares in the last quarter. Finally, Courier Capital LLC grew its holdings in shares of Conagra Brands by 1.7% in the 2nd quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock worth $759,000 after acquiring an additional 438 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG stock opened at $32.73 on Thursday. The firm has a 50 day simple moving average of $30.63 and a 200 day simple moving average of $29.96. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $33.24. The stock has a market cap of $15.65 billion, a P/E ratio of 44.84, a P/E/G ratio of 2.88 and a beta of 0.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts anticipate that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.28%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s payout ratio is currently 191.78%.

Wall Street Analysts Forecast Growth

CAG has been the subject of several analyst reports. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Citigroup reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada cut their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Evercore ISI decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus target price of $31.10.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Conagra Brands 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.