Outfitter Financial LLC Trims Position in Conagra Brands, Inc. (NYSE:CAG)

Outfitter Financial LLC trimmed its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,660 shares of the company’s stock after selling 18,835 shares during the period. Outfitter Financial LLC’s holdings in Conagra Brands were worth $1,045,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CAG. State Street Corp boosted its holdings in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after buying an additional 618,096 shares during the period. Geode Capital Management LLC boosted its stake in shares of Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after buying an additional 196,100 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after acquiring an additional 122,590 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CAG. Barclays dropped their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Bank of America cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Stifel Nicolaus dropped their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.78.

Conagra Brands Trading Up 2.3 %

CAG stock opened at $24.84 on Friday. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The business’s 50-day moving average is $26.20 and its 200 day moving average is $28.57. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.72 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

Conagra Brands Company 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.