Janney Montgomery Scott LLC Sells 14,221 Shares of Conagra Brands (NYSE:CAG)

Janney Montgomery Scott LLC lessened its holdings in Conagra Brands (NYSE:CAG - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,681 shares of the company's stock after selling 14,221 shares during the period. Janney Montgomery Scott LLC's holdings in Conagra Brands were worth $5,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bessemer Group Inc. boosted its stake in shares of Conagra Brands by 0.6% in the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock worth $2,166,000 after buying an additional 429 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after buying an additional 452 shares during the last quarter. Summit Financial Wealth Advisors LLC boosted its stake in shares of Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after buying an additional 500 shares during the last quarter. Xponance Inc. boosted its stake in shares of Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock worth $1,823,000 after buying an additional 505 shares during the last quarter. Finally, Capstone Triton Financial Group LLC boosted its stake in shares of Conagra Brands by 1.5% in the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock worth $995,000 after buying an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

CAG has been the topic of several research analyst reports. The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $26.00 to $21.00 in a research note on Monday, June 9th. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective on the stock. Bank of America downgraded Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. Barclays dropped their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Finally, Wells Fargo & Company dropped their price objective on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $25.36.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded down $0.16 during trading on Tuesday, hitting $21.45. 9,302,666 shares of the company were exchanged, compared to its average volume of 5,642,211. The company has a market cap of $10.24 billion, a PE ratio of 31.54, a P/E/G ratio of 1.61 and a beta of 0.14. The stock has a 50 day moving average of $23.07 and a 200 day moving average of $25.10. Conagra Brands has a 52-week low of $21.18 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. As a group, equities research analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were issued a $0.35 dividend. The ex-dividend date was Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 6.53%. Conagra Brands's payout ratio is currently 205.88%.

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.