Tidal Investments LLC Decreases Position in Conagra Brands, Inc. (NYSE:CAG)

Tidal Investments LLC decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 30.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,607 shares of the company’s stock after selling 14,804 shares during the period. Tidal Investments LLC’s holdings in Conagra Brands were worth $1,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CAG. Wilmington Savings Fund Society FSB acquired a new position in Conagra Brands during the 3rd quarter worth $196,000. Sanctuary Advisors LLC grew its position in shares of Conagra Brands by 526.9% during the third quarter. Sanctuary Advisors LLC now owns 167,181 shares of the company’s stock worth $5,437,000 after buying an additional 140,512 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in shares of Conagra Brands by 0.5% during the third quarter. Hohimer Wealth Management LLC now owns 134,073 shares of the company’s stock worth $4,360,000 after buying an additional 642 shares during the period. Toronto Dominion Bank increased its stake in shares of Conagra Brands by 6.4% during the third quarter. Toronto Dominion Bank now owns 253,442 shares of the company’s stock worth $8,242,000 after buying an additional 15,325 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in Conagra Brands by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 17,707 shares of the company’s stock valued at $564,000 after acquiring an additional 2,224 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAG. Bank of America dropped their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock 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. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday. Six 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.38.

Conagra Brands Stock Down 2.0 %

Conagra Brands stock opened at $26.81 on Friday. The stock has a 50-day simple moving average of $28.26 and a 200-day simple moving average of $29.54. The company has a market capitalization of $12.80 billion, a P/E ratio of 26.03, a PEG ratio of 2.91 and a beta of 0.31. 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, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts expect that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio 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.