Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its stake in Conagra Brands, Inc. (NYSE:CAG) by 76.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 8,004 shares of the company’s stock after selling 25,502 shares during the period. Empowered Funds LLC’s holdings in Conagra Brands were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CAG. Courier Capital LLC lifted its holdings in shares of Conagra Brands by 1.3% during the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after purchasing an additional 355 shares during the period. CWM LLC raised its position in Conagra Brands by 0.4% during the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after buying an additional 359 shares during the last quarter. Empirical Finance LLC lifted its stake in shares of Conagra Brands by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after acquiring an additional 362 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of Conagra Brands by 0.7% in the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after acquiring an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its stake in shares of Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after acquiring an additional 376 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CAG shares. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. 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 on the stock. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.63.

Conagra Brands Stock Up 0.1 %

Conagra Brands stock opened at $27.46 on Tuesday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.34. The stock’s fifty day moving average is $29.57 and its two-hundred day moving average is $29.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. Analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.10%. Conagra Brands’s dividend payout ratio is currently 135.92%.

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.