MCF Advisors LLC Sells 500 Shares of Conagra Brands, Inc. (NYSE:CAG)

MCF Advisors LLC lessened its position in Conagra Brands, Inc. (NYSE:CAG) by 14.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,990 shares of the company’s stock after selling 500 shares during the period. MCF Advisors LLC’s holdings in Conagra Brands were worth $97,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. increased its position in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after buying an additional 1,871,238 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Conagra Brands by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after acquiring an additional 633,794 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after purchasing an additional 1,513,726 shares during the period. Marshall Wace LLP lifted its holdings in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after purchasing an additional 2,242,186 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Conagra Brands by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock valued at $65,209,000 after purchasing an additional 78,487 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CAG has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company upped their target price 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. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays decreased their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Citigroup cut their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Up 0.3 %

Shares of NYSE:CAG traded up $0.08 during trading on Friday, hitting $29.43. 2,474,903 shares of the company were exchanged, compared to its average volume of 4,744,295. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 3.03 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $33.24. The firm has a fifty day moving average price of $31.06 and a two-hundred day moving average price of $30.26.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, research 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 annualized dividend and a yield of 4.76%. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

Conagra Brands 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.