Steward Partners Investment Advisory LLC Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Steward Partners Investment Advisory LLC cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,258 shares of the company’s stock after selling 4,612 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Conagra Brands were worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brookstone Capital Management lifted its holdings in Conagra Brands by 18.4% during the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after purchasing an additional 62,187 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Conagra Brands by 110.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after purchasing an additional 19,329 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Conagra Brands by 41.0% during the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock valued at $2,175,000 after purchasing an additional 22,790 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Conagra Brands during the third quarter valued at about $1,020,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAG has been the topic of several analyst reports. Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.33.

Conagra Brands Stock Down 3.3 %

CAG stock opened at $26.71 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $25.80 and its 200 day moving average is $28.15. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.71 earnings per share. Sell-side analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Conagra Brands Company 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.