Conagra Brands, Inc. (NYSE:CAG) Stake Trimmed by AQR Capital Management LLC

AQR Capital Management LLC lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 19.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,057,927 shares of the company’s stock after selling 251,407 shares during the quarter. AQR Capital Management LLC owned approximately 0.22% of Conagra Brands worth $29,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CAG. Parallel Advisors LLC increased its stake in Conagra Brands by 22.5% in the 4th quarter. Parallel Advisors LLC now owns 14,553 shares of the company’s stock worth $417,000 after purchasing an additional 2,670 shares in the last quarter. Stifel Financial Corp boosted its position in Conagra Brands by 12.2% during the 4th quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock worth $23,385,000 after acquiring an additional 88,576 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in Conagra Brands during the 4th quarter worth about $310,000. TFO Wealth Partners LLC boosted its position in Conagra Brands by 41,928.0% during the 4th quarter. TFO Wealth Partners LLC now owns 10,507 shares of the company’s stock worth $301,000 after acquiring an additional 10,482 shares during the period. Finally, Scotia Capital Inc. boosted its position in Conagra Brands by 6.9% during the 4th quarter. Scotia Capital Inc. now owns 58,423 shares of the company’s stock worth $1,674,000 after acquiring an additional 3,756 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.1 %

Shares of CAG stock opened at $32.47 on Monday. The stock’s 50 day simple moving average is $31.16 and its 200 day simple moving average is $30.20. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $33.24. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 2.95 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the business earned $0.62 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current 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 given a $0.35 dividend. 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 currently 191.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company decreased their price objective on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America raised their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Barclays reduced their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.10.

Insiders Place Their Bets

In other Conagra Brands 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 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 approximately $4,890,108.47. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

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.