Vontobel Holding Ltd. Trims Stake in Conagra Brands, Inc. (NYSE:CAG)

Vontobel Holding Ltd. lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,475 shares of the company’s stock after selling 2,563 shares during the period. Vontobel Holding Ltd.’s holdings in Conagra Brands were worth $1,544,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CAG. Swedbank AB raised its stake in Conagra Brands by 3.1% in the third quarter. Swedbank AB now owns 674,465 shares of the company’s stock valued at $21,934,000 after purchasing an additional 20,384 shares in the last quarter. Creative Planning raised its position in shares of Conagra Brands by 6.1% during the 3rd quarter. Creative Planning now owns 165,064 shares of the company’s stock valued at $5,368,000 after buying an additional 9,490 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Conagra Brands during the 3rd quarter worth $3,829,000. Sound Income Strategies LLC grew its position in Conagra Brands by 8.7% in the third quarter. Sound Income Strategies LLC now owns 119,518 shares of the company’s stock worth $3,887,000 after acquiring an additional 9,562 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Conagra Brands by 22.5% in the third quarter. Exchange Traded Concepts LLC now owns 30,841 shares of the company’s stock valued at $1,003,000 after acquiring an additional 5,669 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.0 %

NYSE:CAG opened at $30.32 on Friday. The firm has a market capitalization of $14.49 billion, a P/E ratio of 41.53, a P/E/G ratio of 3.01 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $31.15 and a 200 day moving average of $30.30. Conagra Brands, Inc. has a 52 week low of $26.62 and a 52 week high of $33.24.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.62%. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Analyst Ratings Changes

CAG has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus reduced their target price 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. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.63.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.88% of the stock is owned by corporate insiders.

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.