Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,000 shares of the company’s stock after selling 2,116 shares during the quarter. Fernwood Investment Management LLC’s holdings in Conagra Brands were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Conagra Brands by 10.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 39,525 shares of the company’s stock valued at $1,172,000 after buying an additional 3,638 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Conagra Brands in the first quarter valued at $307,000. Private Advisor Group LLC increased its stake in Conagra Brands by 3.1% in the first quarter. Private Advisor Group LLC now owns 135,923 shares of the company’s stock valued at $4,029,000 after purchasing an additional 4,124 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Conagra Brands during the first quarter worth about $618,000. Finally, BNP Paribas Financial Markets boosted its stake in Conagra Brands by 27.6% in the 1st quarter. BNP Paribas Financial Markets now owns 749,224 shares of the company’s stock worth $22,207,000 after buying an additional 162,188 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.1 %

Shares of NYSE CAG traded up $0.03 on Friday, hitting $28.97. The company had a trading volume of 3,411,269 shares, compared to its average volume of 3,964,229. The firm has a market capitalization of $13.83 billion, a P/E ratio of 28.13, a PEG ratio of 2.98 and a beta of 0.34. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24. The business has a 50 day moving average of $30.92 and a two-hundred day moving average of $30.23. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.83%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Insider Buying and Selling

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 transaction of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CAG shares. The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Evercore ISI cut their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.