NBC Securities Inc. Cuts Stock Position in Conagra Brands, Inc. (NYSE:CAG)

NBC Securities Inc. decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 22.0% during the third quarter, Holdings Channel.com reports. The firm owned 6,532 shares of the company’s stock after selling 1,837 shares during the period. NBC Securities Inc.’s holdings in Conagra Brands were worth $212,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CAG. CWM LLC boosted its holdings in shares of Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after purchasing an additional 359 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Conagra Brands by 7.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after buying an additional 373 shares during the period. Czech National Bank increased its position in Conagra Brands by 0.5% during the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after acquiring an additional 392 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares during the period. Finally, Summit Financial Wealth Advisors LLC lifted its holdings in shares of Conagra Brands by 1.1% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after acquiring an additional 430 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America reduced their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Stifel Nicolaus reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Barclays lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.63.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $30.32 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock’s fifty day moving average price is $31.15 and its 200-day moving average price is $30.30. The firm has a market cap of $14.49 billion, a P/E ratio of 41.53, a P/E/G ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. On average, equities research analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.62%. Conagra Brands’s dividend payout ratio 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.