Manchester Capital Management LLC Sells 411 Shares of Conagra Brands, Inc. (NYSE:CAG)

Manchester Capital Management LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 23.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,325 shares of the company’s stock after selling 411 shares during the period. Manchester Capital Management LLC’s holdings in Conagra Brands were worth $37,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CAG. Courier Capital LLC increased its holdings in Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after purchasing an additional 355 shares in the last quarter. Empirical Finance LLC increased its holdings in Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after purchasing an additional 362 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after purchasing an additional 376 shares in the last quarter. Bridgewater Advisors Inc. increased its holdings in Conagra Brands by 1.5% during the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Up 1.3 %

NYSE:CAG opened at $25.31 on Monday. Conagra Brands, Inc. has a 12-month low of $24.18 and a 12-month high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $12.08 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.70 and a beta of 0.28. The stock’s fifty day simple moving average is $26.46 and its 200-day simple moving average is $28.71.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. Equities research analysts expect that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.53%. Conagra Brands’s dividend payout ratio is presently 137.26%.

Wall Street Analyst Weigh In

CAG has been the subject of several research reports. Bank of America lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus lowered their target price on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Seven investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.33.

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.