Conagra Brands, Inc. (NYSE:CAG) Position Trimmed by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,833 shares of the company’s stock after selling 473 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Conagra Brands were worth $1,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CAG. Norges Bank purchased a new position in Conagra Brands during the 4th quarter valued at about $140,473,000. AMF Tjanstepension AB acquired a new stake in shares of Conagra Brands during the 1st quarter valued at about $47,980,000. Junto Capital Management LP acquired a new stake in shares of Conagra Brands during the 4th quarter valued at about $36,069,000. Miller Howard Investments Inc. NY lifted its holdings in shares of Conagra Brands by 523.8% during the 2nd 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 last quarter. Finally, Swedbank AB acquired a new stake in shares of Conagra Brands during the 1st quarter valued at about $18,268,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at $4,890,108.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CAG shares. Stifel Nicolaus reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Royal Bank of Canada reduced their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Evercore ISI reduced their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Citigroup reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Finally, The Goldman Sachs Group began coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $30.90.

Conagra Brands Stock Up 0.5 %

CAG opened at $31.20 on Friday. The business has a 50 day moving average price of $29.73 and a 200 day moving average price of $29.57. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $31.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm has a market cap of $14.92 billion, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts forecast that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.49%. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

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.