Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Outfitter Financial LLC

Outfitter Financial LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 33.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,660 shares of the company’s stock after selling 18,835 shares during the quarter. Outfitter Financial LLC’s holdings in Conagra Brands were worth $1,045,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the 4th quarter valued at approximately $28,000. Grove Bank & Trust raised its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands in the third quarter valued at $47,000. Stonebridge Financial Group LLC acquired a new position in shares of Conagra Brands in the 4th quarter valued at $44,000. Finally, Kennebec Savings Bank purchased a new position in shares of Conagra Brands during the 3rd quarter worth $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CAG shares. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.78.

Conagra Brands Stock Up 2.3 %

Shares of NYSE CAG opened at $24.84 on Friday. The stock has a market cap of $11.86 billion, a P/E ratio of 24.36, a PEG ratio of 1.72 and a beta of 0.28. The business’s fifty day simple moving average is $26.20 and its 200-day simple moving average is $28.57. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the company earned $0.71 EPS. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.64%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

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.