Parallel Advisors LLC Has $365,000 Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Parallel Advisors LLC increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,852 shares of the company’s stock after acquiring an additional 1,535 shares during the period. Parallel Advisors LLC’s holdings in Conagra Brands were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CAG. Innealta Capital LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Whittier Trust Co. boosted its position in shares of Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Conagra Brands during the 1st quarter worth approximately $42,000. Finally, Security National Bank acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insider Buying and Selling

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 transaction of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CAG shares. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Barclays cut their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI cut their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group assumed 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. Finally, Stifel Nicolaus cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.10.

Conagra Brands Price Performance

CAG stock opened at $32.56 on Wednesday. The company has a fifty day moving average price of $30.56 and a 200-day moving average price of $29.92. The company has a market capitalization of $15.57 billion, a P/E ratio of 44.60, a PEG ratio of 2.88 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $33.24. 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 released its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio is presently 191.78%.

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.