Wealth Advisors of Tampa Bay LLC Sells 2,595 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wealth Advisors of Tampa Bay LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,928 shares of the company’s stock after selling 2,595 shares during the period. Wealth Advisors of Tampa Bay LLC’s holdings in Conagra Brands were worth $1,902,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. Norges Bank bought a new position in Conagra Brands in the fourth quarter worth $140,473,000. Dimensional Fund Advisors LP raised its holdings in Conagra Brands by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after purchasing an additional 633,794 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Conagra Brands by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock valued at $65,209,000 after buying an additional 78,487 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Conagra Brands by 26.2% during the 2nd quarter. Raymond James & Associates now owns 1,889,319 shares of the company’s stock valued at $53,694,000 after buying an additional 392,305 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore ISI decreased their price target 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. Stifel Nicolaus decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Barclays lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Wells Fargo & Company reduced their price objective on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup lowered their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus target price of $31.10.

Insider Activity at Conagra Brands

In other Conagra Brands 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 value of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is owned by insiders.

Conagra Brands Stock Performance

Shares of CAG opened at $32.40 on Friday. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.24. The business’s fifty day simple moving average is $30.71 and its two-hundred day simple moving average is $29.98. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 44.38, a P/E/G ratio of 2.88 and a beta of 0.32.

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

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.32%. Conagra Brands’s payout ratio is 191.78%.

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.