Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in Conagra Brands, Inc. (NYSE:CAG) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 860,706 shares of the company’s stock after selling 6,808 shares during the quarter. Rhumbline Advisers owned 0.18% of Conagra Brands worth $24,461,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Natixis Advisors L.P. lifted its holdings in shares of Conagra Brands by 3.1% during the fourth quarter. Natixis Advisors L.P. now owns 159,495 shares of the company’s stock worth $4,570,000 after purchasing an additional 4,839 shares during the period. National Bank of Canada FI lifted its holdings in shares of Conagra Brands by 16.1% during the fourth quarter. National Bank of Canada FI now owns 174,022 shares of the company’s stock worth $5,139,000 after purchasing an additional 24,094 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Conagra Brands by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,857,207 shares of the company’s stock worth $81,888,000 after purchasing an additional 127,739 shares during the period. Principal Securities Inc. acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $159,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Conagra Brands by 316.6% during the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after purchasing an additional 117,042 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.6 %

Conagra Brands stock opened at $32.74 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $32.85. The stock has a market capitalization of $15.65 billion, a PE ratio of 44.85, a price-to-earnings-growth ratio of 2.86 and a beta of 0.32. The business has a 50 day simple moving average of $30.08 and a 200-day simple moving average of $29.74.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, July 11th. The company reported $0.61 EPS 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 previous year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, August 1st. Conagra Brands’s payout ratio is 191.78%.

Analyst Ratings Changes

A number of research analysts have issued reports on CAG shares. The Goldman Sachs Group started coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Wells Fargo & Company decreased their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Barclays decreased their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Evercore ISI decreased 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. Finally, Royal Bank of Canada decreased 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. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.90.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

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.