M&G Plc Trims Holdings in Conagra Brands, Inc. (NYSE:CAG)

M&G Plc trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 89.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 25,799 shares of the company’s stock after selling 221,826 shares during the quarter. M&G Plc’s holdings in Conagra Brands were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CAG. Sequoia Financial Advisors LLC lifted its stake in Conagra Brands by 8.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,286 shares of the company’s stock valued at $349,000 after acquiring an additional 989 shares during the period. Czech National Bank lifted its stake in Conagra Brands by 8.3% during the 2nd quarter. Czech National Bank now owns 91,099 shares of the company’s stock valued at $2,589,000 after acquiring an additional 6,994 shares during the period. Ignite Planners LLC lifted its stake in Conagra Brands by 17.2% during the 2nd quarter. Ignite Planners LLC now owns 16,580 shares of the company’s stock valued at $468,000 after acquiring an additional 2,428 shares during the period. Sound Income Strategies LLC lifted its stake in Conagra Brands by 8.4% during the 2nd quarter. Sound Income Strategies LLC now owns 109,956 shares of the company’s stock valued at $3,125,000 after acquiring an additional 8,481 shares during the period. Finally, Carolina Wealth Advisors LLC lifted its stake in Conagra Brands by 9.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 148,360 shares of the company’s stock valued at $4,216,000 after acquiring an additional 13,055 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 1.8 %

CAG stock opened at $30.36 on Wednesday. The firm has a fifty day moving average price of $29.24 and a 200 day moving average price of $29.37. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $31.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm has a market cap of $14.51 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating 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 net margin of 2.88% and a return on equity of 14.31%. Conagra Brands’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Sell-side analysts anticipate that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.61%. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CAG shares. Citigroup lowered their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research note on Monday. They set a “buy” rating and a $36.00 target price on the stock. Finally, Evercore ISI decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.45.

Insider Transactions at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.