Jump Financial LLC Has $2.99 Million Position in Conagra Brands $CAG

Key Points

• Jump Financial LLC significantly reduced its stake in Conagra Brands by 64.1%, now holding 112,043 shares worth approximately $2.99 million after selling 200,043 shares.
• Conagra Brands reported diluted earnings of $0.56 per share for its last quarter, which was below analyst expectations and reflected a 4.3% decrease in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.35 per share, resulting in a 7.5% yield, and has a payout ratio of approximately 58.58%.

Jump Financial LLC reduced its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 64.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,043 shares of the company's stock after selling 200,043 shares during the quarter. Jump Financial LLC's holdings in Conagra Brands were worth $2,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAG. Alpine Bank Wealth Management bought a new stake in Conagra Brands during the first quarter worth $26,000. Capital Advisors Ltd. LLC raised its position in Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after acquiring an additional 452 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Conagra Brands in the first quarter valued at about $27,000. Golden State Wealth Management LLC raised its position in shares of 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 purchasing an additional 741 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Conagra Brands in the first quarter valued at about $34,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Conagra Brands stock traded up $0.36 during trading hours on Friday, reaching $19.15. 8,267,493 shares of the stock were exchanged, compared to its average volume of 12,172,692. The company has a market cap of $9.16 billion, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 1.83 and a beta of 0.08. 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 has a twelve month low of $18.18 and a twelve month high of $33.24. The stock has a 50 day moving average of $19.57 and a two-hundred day moving average of $22.76.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The company's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. Equities analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Wednesday, July 30th. Conagra Brands's dividend payout ratio (DPR) is presently 58.58%.

Wall Street Analysts Forecast Growth

CAG has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. JPMorgan Chase & Co. initiated coverage on shares of Conagra Brands in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $20.00 price objective on the stock. UBS Group dropped their price objective on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Barclays dropped their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Finally, Royal Bank Of Canada dropped their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of "Hold" and a consensus price target of $22.17.

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.