DoubleLine ETF Adviser LP Sells 1,619 Shares of Conagra Brands, Inc. (NYSE:CAG)

DoubleLine ETF Adviser LP reduced its position in Conagra Brands, Inc. (NYSE:CAG) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,932 shares of the company’s stock after selling 1,619 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Conagra Brands were worth $566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its position in Conagra Brands by 7.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after purchasing an additional 373 shares during the period. Czech National Bank lifted its holdings in shares of Conagra Brands by 0.5% during the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after acquiring an additional 392 shares during the period. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Conagra Brands by 1.1% during the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock valued at $1,184,000 after acquiring an additional 430 shares during the period. Courier Capital LLC lifted its holdings in shares of Conagra Brands by 1.7% during the second quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock valued at $759,000 after acquiring an additional 438 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Conagra Brands by 4.1% during the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after acquiring an additional 445 shares during the period. 83.75% of the stock is owned by institutional investors.

Insider Transactions at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG stock opened at $32.49 on Friday. The stock has a 50-day moving average price of $31.10 and a 200 day moving average price of $30.15. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 44.51, a PEG ratio of 2.95 and a beta of 0.32. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.24.

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

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.31%. Conagra Brands’s payout ratio is currently 191.78%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Citigroup cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Evercore ISI lowered their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Barclays lowered their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average price target of $31.10.

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.