Weaver Capital Management LLC Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Weaver Capital Management LLC decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,803 shares of the company’s stock after selling 1,153 shares during the quarter. Weaver Capital Management LLC’s holdings in Conagra Brands were worth $481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in shares of Conagra Brands by 4.2% in the third quarter. Signaturefd LLC now owns 25,142 shares of the company’s stock worth $818,000 after buying an additional 1,008 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Conagra Brands by 46.3% during the third quarter. Sequoia Financial Advisors LLC now owns 17,979 shares of the company’s stock valued at $585,000 after purchasing an additional 5,693 shares in the last quarter. Home Federal Bank of Tennessee lifted its holdings in Conagra Brands by 14.5% during the third quarter. Home Federal Bank of Tennessee now owns 20,560 shares of the company’s stock valued at $669,000 after purchasing an additional 2,610 shares in the last quarter. OLD National Bancorp IN lifted its holdings in Conagra Brands by 3.4% during the third quarter. OLD National Bancorp IN now owns 273,825 shares of the company’s stock valued at $8,905,000 after purchasing an additional 8,975 shares in the last quarter. Finally, DMC Group LLC lifted its holdings in Conagra Brands by 3.4% during the third quarter. DMC Group LLC now owns 20,435 shares of the company’s stock valued at $665,000 after purchasing an additional 676 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Activity

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’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 sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CAG shares. Bank of America lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Stifel Nicolaus reduced their price objective 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. Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, Barclays reduced their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Down 0.1 %

NYSE CAG opened at $29.49 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $31.13 and a two-hundred day moving average of $30.29. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 52 week low of $26.62 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last posted 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). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 191.78%.

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.