Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 33.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,679 shares of the company’s stock after selling 20,700 shares during the period. Conagra Brands accounts for 0.2% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 21st biggest position. Elite Wealth Management Inc.’s holdings in Conagra Brands were worth $1,355,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Marshall Wace LLP grew 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 purchasing an additional 2,242,186 shares during the period. Federated Hermes Inc. increased its position in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Squarepoint Ops LLC raised its stake in Conagra Brands by 148.2% during the second 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. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Conagra Brands by 2,552.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after purchasing an additional 1,241,121 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Down 0.1 %

CAG stock opened at $27.45 on Thursday. The company has a market capitalization of $13.10 billion, a P/E ratio of 26.65, a PEG ratio of 2.83 and a beta of 0.34. The firm has a 50 day simple moving average of $29.47 and a 200-day simple moving average of $29.85. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24.

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

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. Conagra Brands’s payout ratio is currently 135.92%.

Analyst Ratings Changes

Several research analysts recently weighed in on CAG shares. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America decreased their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Six 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.63.

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.