Janney Montgomery Scott LLC Lowers Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Janney Montgomery Scott LLC cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 42.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,932 shares of the company’s stock after selling 61,065 shares during the period. Janney Montgomery Scott LLC’s holdings in Conagra Brands were worth $2,729,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Conagra Brands during the 2nd quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the period. LRI Investments LLC purchased a new stake in Conagra Brands during the 1st quarter worth $42,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands during the 3rd quarter worth $47,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 2.5 %

CAG stock opened at $27.74 on Tuesday. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24. 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 market cap of $13.24 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.93 and a beta of 0.34. The company has a 50 day moving average of $30.60 and a two-hundred day moving average of $30.13.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.05%. Conagra Brands’s payout ratio is presently 135.92%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAG. Wells Fargo & Company boosted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Bank of America cut their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $31.63.

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.