Prospera Private Wealth LLC Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Prospera Private Wealth LLC trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 90.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,800 shares of the company’s stock after selling 17,668 shares during the quarter. Prospera Private Wealth LLC’s holdings in Conagra Brands were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after acquiring an additional 2,242,186 shares during the period. Federated Hermes Inc. increased its position in shares of Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Conagra Brands by 148.2% in the 2nd 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. Assenagon Asset Management S.A. boosted its holdings in shares of Conagra Brands by 2,552.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after buying an additional 1,241,121 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its position in Conagra Brands by 523.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after buying an additional 1,214,859 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of CAG opened at $27.12 on Friday. The firm has a market cap of $12.94 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The company has a 50 day simple moving average of $29.77 and a two-hundred day simple moving average of $29.93.

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

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analyst Upgrades and Downgrades

CAG has been the topic of several analyst reports. Wells Fargo & Company lifted 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. Bank of America cut their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. The Goldman Sachs Group began coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.63.

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.