Royal Fund Management LLC Lowers Position in Conagra Brands, Inc. (NYSE:CAG)

Royal Fund Management LLC decreased its position in Conagra Brands, Inc. (NYSE:CAG) by 18.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 47,500 shares of the company’s stock after selling 10,700 shares during the quarter. Royal Fund Management LLC’s holdings in Conagra Brands were worth $1,318,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands during the 4th quarter valued at about $28,000. Hexagon Capital Partners LLC grew its stake in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares in the last quarter. Grove Bank & Trust grew 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 during the last quarter. Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the 3rd quarter worth about $47,000. Finally, ST Germain D J Co. Inc. raised its holdings in shares of Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of CAG opened at $25.83 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 1-year low of $25.35 and a 1-year high of $33.24. The stock has a market cap of $12.33 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.29. The firm has a fifty day moving average price of $27.21 and a 200 day moving average price of $29.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.26%.

Analysts Set New Price Targets

CAG has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, Citigroup cut 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. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target of $30.56.

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.