Patrick Mauro Investment Advisor INC. Sells 22,630 Shares of Conagra Brands, Inc. (NYSE:CAG)

Patrick Mauro Investment Advisor INC. trimmed its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,480 shares of the company's stock after selling 22,630 shares during the period. Conagra Brands accounts for 1.2% of Patrick Mauro Investment Advisor INC.'s portfolio, making the stock its 29th largest position. Patrick Mauro Investment Advisor INC.'s holdings in Conagra Brands were worth $2,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Novem Group acquired a new position in Conagra Brands during the 4th quarter valued at about $282,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Conagra Brands by 8.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,580,987 shares of the company's stock valued at $99,372,000 after buying an additional 266,415 shares in the last quarter. Woodline Partners LP acquired a new position in Conagra Brands during the 4th quarter valued at about $795,000. Vident Advisory LLC increased its position in Conagra Brands by 21.5% during the 4th quarter. Vident Advisory LLC now owns 55,699 shares of the company's stock valued at $1,546,000 after buying an additional 9,869 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in Conagra Brands during the 4th quarter valued at about $13,323,000. 83.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CAG shares. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective on the stock. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Finally, Barclays cut their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Nine 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 company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $27.50.

Conagra Brands Stock Down 2.7%

Shares of CAG opened at $22.48 on Thursday. Conagra Brands, Inc. has a 52 week low of $22.38 and a 52 week high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.76 and a beta of 0.18. The stock's 50-day moving average price is $24.89 and its 200-day moving average price is $26.02.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.23%. Conagra Brands's payout ratio is 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.

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