Mutual of America Capital Management LLC Has $1.72 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Mutual of America Capital Management LLC decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 3.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 60,346 shares of the company’s stock after selling 2,364 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Conagra Brands were worth $1,715,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CAG. Bessemer Group Inc. increased its holdings in shares of Conagra Brands by 237.9% in the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after purchasing an additional 54,195 shares during the period. Stifel Financial Corp lifted its position in Conagra Brands by 12.2% in the 4th quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock worth $23,385,000 after buying an additional 88,576 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Conagra Brands by 663.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 436,698 shares of the company’s stock valued at $12,516,000 after buying an additional 379,473 shares during the period. SG Americas Securities LLC grew its holdings in shares of Conagra Brands by 261.3% during the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock valued at $4,360,000 after acquiring an additional 106,368 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Conagra Brands in the first quarter worth $7,429,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands 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 sale, the chief operating officer now 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 through the SEC website. Insiders own 0.88% of the company’s stock.

Conagra Brands Stock Performance

CAG opened at $32.29 on Thursday. 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 stock’s 50 day moving average price is $31.05 and its two-hundred day moving average price is $30.13. The firm has a market capitalization of $15.43 billion, a P/E ratio of 44.23, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (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 analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Conagra Brands’s revenue was down 2.3% compared to the same quarter last year. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.61 earnings per share for the current 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 paid 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 4.34%. Conagra Brands’s dividend payout ratio is 191.78%.

Analyst Ratings Changes

CAG has been the topic of a number of recent research reports. Royal Bank of Canada lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Barclays dropped their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Bank of America raised their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Evercore ISI decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.10.

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.