Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Davis Capital Management

Davis Capital Management trimmed its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 89.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,160 shares of the company’s stock after selling 18,578 shares during the quarter. Davis Capital Management’s holdings in Conagra Brands were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. First United Bank & Trust acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $26,000. Naples Money Management LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $26,000. Advantage Trust Co acquired a new position in Conagra Brands during the fourth quarter worth $34,000. Parkside Financial Bank & Trust boosted its position in Conagra Brands by 48.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus lowered 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 report on Friday, July 12th. Evercore ISI cut 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 reduced their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada dropped their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.18.

Conagra Brands Trading Up 2.1 %

Conagra Brands stock traded up $0.65 during trading on Friday, reaching $30.90. The company had a trading volume of 3,767,504 shares, compared to its average volume of 4,589,925. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $32.84. The stock’s 50 day moving average price is $29.19 and its two-hundred day moving average price is $29.33.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $2.93 billion. During the same period last year, the company posted $0.62 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.53%. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Insiders Place Their Bets

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is owned by insiders.

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.