Conagra Brands $CAG Shares Sold by Adams Asset Advisors LLC

Key Points

• Adams Asset Advisors LLC reduced its stake in Conagra Brands by 11.3%, now holding 193,623 shares valued at approximately $3.96 million after selling 24,555 shares.
• Conagra Brands reported Q2 earnings of $0.56 per share, missing analyst estimates of $0.61, and experienced a 4.3% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.35 per share, yielding 7.3%, with a payout ratio of 58.58%.

Adams Asset Advisors LLC decreased its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,623 shares of the company's stock after selling 24,555 shares during the quarter. Adams Asset Advisors LLC's holdings in Conagra Brands were worth $3,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in Conagra Brands in the first quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Conagra Brands in the first quarter valued at about $27,000. Capital Advisors Ltd. LLC lifted its position in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after buying an additional 452 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock valued at $28,000 after buying an additional 741 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Conagra Brands in the first quarter valued at about $34,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Down 1.4%

NYSE:CAG traded down $0.27 during mid-day trading on Friday, hitting $18.49. The stock had a trading volume of 3,968,922 shares, compared to its average volume of 8,115,224. The stock has a 50-day simple moving average of $19.12 and a two-hundred day simple moving average of $22.18. The company has a market capitalization of $8.85 billion, a PE ratio of 7.73, a PEG ratio of 1.80 and a beta of 0.07. Conagra Brands has a twelve month low of $18.18 and a twelve month high of $32.90. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. On average, equities research analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.6%. Conagra Brands's dividend payout ratio (DPR) is presently 58.58%.

Wall Street Analyst Weigh In

A number of research firms have commented on CAG. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the company a "market perform" rating in a research report on Friday, July 11th. UBS Group cut their price target on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Wells Fargo & Company cut their price target on shares of Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Royal Bank Of Canada cut their price target on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, July 11th. Finally, Evercore ISI cut their price target on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $22.17.

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.