Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its holdings in Conagra Brands, Inc. (NYSE:CAG) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 50,883 shares of the company’s stock after selling 858 shares during the period. Inspire Investing LLC’s holdings in Conagra Brands were worth $1,412,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the 4th quarter valued at about $28,000. Grove Bank & Trust lifted its holdings in shares of Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter worth approximately $47,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Conagra Brands in the third quarter worth approximately $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Bank of America cut their target price 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. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $30.56.

Conagra Brands Price Performance

CAG stock opened at $25.35 on Friday. The firm has a market cap of $12.10 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 1 year low of $25.06 and a 1 year high of $33.24. The stock has a 50-day simple moving average of $27.08 and a 200-day simple moving average of $29.17.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $0.71 earnings per share. Conagra Brands’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.52%. Conagra Brands’s payout ratio is currently 137.26%.

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.