Cetera Investment Advisers Reduces Stake in Conagra Brands (NYSE:CAG)

Key Points

• Cetera Investment Advisers reduced its stake in Conagra Brands by 9.2%, now holding 174,043 shares valued at approximately $4.64 million.
• Several analysts have downgraded Conagra Brands’ rating, with Goldman Sachs and Stifel Nicolaus both setting target prices of $21.00.
• Conagra Brands reported a quarterly EPS of $0.56, missing expectations, and announced a quarterly dividend of $0.35 per share with a yield of 7.6%.

Cetera Investment Advisers lowered its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 174,043 shares of the company's stock after selling 17,593 shares during the quarter. Cetera Investment Advisers' holdings in Conagra Brands were worth $4,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in Conagra Brands in the first quarter worth about $26,000. Capital Advisors Ltd. LLC boosted its position in shares of Conagra Brands by 82.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares during the period. Golden State Wealth Management LLC increased its position in shares of Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after acquiring an additional 741 shares during the period. Wayfinding Financial LLC acquired a new position in Conagra Brands during the 1st quarter worth approximately $34,000. Finally, AdvisorNet Financial Inc lifted its stake in Conagra Brands by 86.1% during the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after purchasing an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CAG shares. Royal Bank Of Canada lowered their target price on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, July 11th. UBS Group lowered their price target on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 9th. Morgan Stanley decreased their price target on shares of Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $22.58.

Conagra Brands Price Performance

NYSE CAG traded up $0.15 during midday trading on Wednesday, hitting $18.95. The company had a trading volume of 12,162,200 shares, compared to its average volume of 13,340,214. Conagra Brands has a twelve month low of $18.18 and a twelve month high of $33.24. The firm has a 50-day moving average price of $20.64 and a 200-day moving average price of $23.53. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $9.05 billion, a PE ratio of 7.93, a P/E/G ratio of 1.80 and a beta of 0.08.

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 analysts' consensus estimates of $0.61 by ($0.05). The business had revenue of $2,781,800 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 company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. As a group, analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.4%. Conagra Brands's dividend payout ratio (DPR) is currently 58.58%.

Conagra Brands 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.