NBC Securities Inc. Cuts Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

NBC Securities Inc. reduced its position in Conagra Brands, Inc. (NYSE:CAG) by 22.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,532 shares of the company’s stock after selling 1,837 shares during the period. NBC Securities Inc.’s holdings in Conagra Brands were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAG. Bessemer Group Inc. lifted its holdings in shares of Conagra Brands by 237.9% during the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after purchasing an additional 54,195 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Conagra Brands by 261.3% in the first quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock worth $4,360,000 after acquiring an additional 106,368 shares during the period. M&G Plc purchased a new position in shares of Conagra Brands during the first quarter valued at approximately $7,429,000. UniSuper Management Pty Ltd lifted its position in Conagra Brands by 573.4% during the first quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock valued at $1,128,000 after purchasing an additional 32,396 shares during the period. Finally, Brookstone Capital Management boosted its holdings in Conagra Brands by 912.4% in the first quarter. Brookstone Capital Management now owns 339,927 shares of the company’s stock worth $10,075,000 after purchasing an additional 306,349 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

CAG opened at $30.32 on Friday. The company has a 50 day simple moving average of $31.15 and a two-hundred day simple moving average of $30.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The firm has a market cap of $14.49 billion, a P/E ratio of 41.53, a PEG ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. Equities analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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 4.62%. Conagra Brands’s dividend payout ratio is presently 191.78%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lowered their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America reduced their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Finally, The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price for the company. Six equities 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.63.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by corporate insiders.

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.