Intech Investment Management LLC Has $360,000 Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Intech Investment Management LLC lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 35.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,656 shares of the company’s stock after selling 6,925 shares during the quarter. Intech Investment Management LLC’s holdings in Conagra Brands were worth $360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its position in shares of 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 purchasing an additional 373 shares during the period. Czech National Bank lifted its stake in Conagra Brands by 0.5% in the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after buying an additional 392 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its stake in Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock valued at $1,184,000 after buying an additional 430 shares in the last quarter. Courier Capital LLC boosted its holdings in shares of Conagra Brands by 1.7% in the second quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock valued at $759,000 after buying an additional 438 shares during the period. Finally, Avantax Advisory Services Inc. increased its position in shares of Conagra Brands by 4.1% during the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock worth $334,000 after acquiring an additional 445 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CAG shares. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company dropped their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada cut 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. Finally, Bank of America raised their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.10.

Conagra Brands Price Performance

NYSE:CAG opened at $32.46 on Friday. The stock has a market capitalization of $15.52 billion, a PE ratio of 44.46, a P/E/G ratio of 2.95 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $33.24. The firm has a fifty day simple moving average of $31.16 and a 200 day simple moving average of $30.18. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, research analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.31%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio is 191.78%.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

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.