Frank Rimerman Advisors LLC Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Frank Rimerman Advisors LLC trimmed its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,047 shares of the company’s stock after selling 1,982 shares during the period. Frank Rimerman Advisors LLC’s holdings in Conagra Brands were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CAG. DekaBank Deutsche Girozentrale grew its position in Conagra Brands by 14.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 172,140 shares of the company’s stock worth $5,521,000 after purchasing an additional 22,306 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after buying an additional 376 shares during the last quarter. Forsta AP Fonden grew its holdings in shares of Conagra Brands by 7.4% in the third quarter. Forsta AP Fonden now owns 113,500 shares of the company’s stock worth $3,691,000 after acquiring an additional 7,800 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Conagra Brands by 42.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,974 shares of the company’s stock valued at $1,493,000 after acquiring an additional 13,654 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in Conagra Brands by 18.0% during the third quarter. Tectonic Advisors LLC now owns 16,286 shares of the company’s stock valued at $530,000 after acquiring an additional 2,481 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’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 completion of the transaction, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. 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 research note on Friday, July 12th. Wells Fargo & Company upped their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Barclays reduced their price objective 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. Finally, Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Up 1.1 %

Shares of CAG stock opened at $29.76 on Tuesday. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The company’s fifty day moving average price is $31.04 and its 200-day moving average price is $30.25. Conagra Brands, Inc. has a one year low of $26.62 and a one year high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

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.