Advisory Services Network LLC Sells 13,237 Shares of Conagra Brands, Inc. (NYSE:CAG)

Advisory Services Network LLC lowered its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 25.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,385 shares of the company's stock after selling 13,237 shares during the period. Advisory Services Network LLC's holdings in Conagra Brands were worth $1,093,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Grove Bank & Trust increased its holdings in shares of 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 buying an additional 447 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Conagra Brands by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after purchasing an additional 501 shares during the period. Xponance Inc. lifted its holdings in shares of Conagra Brands by 0.8% during the fourth quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after purchasing an additional 505 shares during the last quarter. International Private Wealth Advisors LLC boosted its holdings in shares of Conagra Brands by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company's stock worth $295,000 after buying an additional 527 shares during the period. Finally, ST Germain D J Co. Inc. raised its stake in Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock valued at $55,000 after purchasing an additional 529 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Ratings Changes

CAG has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Stifel Nicolaus reduced their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $27.90.

Conagra Brands Stock Performance

CAG traded up $0.41 during midday trading on Friday, reaching $25.31. The company's stock had a trading volume of 4,787,593 shares, compared to its average volume of 5,128,022. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The company has a fifty day simple moving average of $25.77 and a 200 day simple moving average of $26.93. The stock has a market cap of $12.08 billion, a P/E ratio of 24.82, a PEG ratio of 1.76 and a beta of 0.27. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.53%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

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.