Royal London Asset Management Ltd. Lowers Holdings in Conagra Brands, Inc. (NYSE:CAG)

Royal London Asset Management Ltd. lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,357 shares of the company’s stock after selling 1,865 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Conagra Brands were worth $5,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Chilton Capital Management LLC bought a new stake in shares of Conagra Brands in the second quarter worth $25,000. Innealta Capital LLC bought a new stake in shares of Conagra Brands in the second quarter worth $25,000. Whittier Trust Co. grew its holdings in shares of Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares during the period. LRI Investments LLC bought a new stake in Conagra Brands during the first quarter valued at about $44,000. Finally, Security National Bank bought a new stake in Conagra Brands during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction 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 owns 161,443 shares in the company, valued at $4,890,108.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on CAG. Evercore ISI cut 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. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Citigroup dropped their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Stifel Nicolaus dropped their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Finally, Barclays dropped their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.78.

Conagra Brands Stock Performance

Shares of CAG opened at $32.05 on Friday. The stock has a 50-day moving average of $30.47 and a two-hundred day moving average of $29.86. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $33.24. 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 stock has a market cap of $15.35 billion, a P/E ratio of 43.90, a P/E/G ratio of 2.88 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data 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 net margin of 2.88% and a return on equity of 14.31%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the company earned $0.62 EPS. The business’s revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

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. The ex-dividend date was Thursday, August 1st. This represents a $1.40 annualized dividend and a yield of 4.37%. Conagra Brands’s dividend payout ratio is presently 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.