D.A. Davidson & CO. Has $5.30 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

D.A. Davidson & CO. lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,435 shares of the company’s stock after selling 36,508 shares during the period. D.A. Davidson & CO.’s holdings in Conagra Brands were worth $5,299,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Conagra Brands in the second quarter valued at approximately $25,000. First United Bank & Trust bought a new stake in Conagra Brands in the 4th quarter valued at $26,000. Advantage Trust Co acquired a new stake in Conagra Brands during the 4th quarter valued at $34,000. Whittier Trust Co. boosted its position in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Conagra Brands in the first quarter valued at $42,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Citigroup decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Evercore ISI lowered their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Barclays lowered their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Stifel Nicolaus dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $30.90.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Conagra Brands Price Performance

CAG stock opened at $31.20 on Tuesday. The company’s 50-day moving average price is $29.77 and its two-hundred day moving average price is $29.62. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $31.82. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market cap of $14.92 billion, a P/E ratio of 42.74, a P/E/G ratio of 2.86 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts anticipate that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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

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.