Conagra Brands (NYSE:CAG) Holdings Decreased by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC has reduced its holdings in Conagra Brands by 49.5%, resulting in a total of 58,671 shares worth approximately $1.57 million.
• Conagra Brands reported an earnings miss for the last quarter, with an EPS of $0.56, falling short of the expected $0.61, and revenue decreased by 4.3% year-over-year.
• The company declared a quarterly dividend of $0.35, which reflects an annualized yield of 7.29% and places its dividend payout ratio at 58.58%.

Private Advisor Group LLC lessened its position in Conagra Brands (NYSE:CAG - Free Report) by 49.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,671 shares of the company's stock after selling 57,616 shares during the quarter. Private Advisor Group LLC's holdings in Conagra Brands were worth $1,565,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAG. Stifel Nicolaus decreased their target price on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Barclays decreased their target price on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Royal Bank Of Canada decreased their target price on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, July 11th. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.58.

Conagra Brands Trading Down 0.4%

Shares of NYSE:CAG traded down $0.09 during midday trading on Friday, reaching $19.22. The company's stock had a trading volume of 8,407,872 shares, compared to its average volume of 11,661,483. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 1.84 and a beta of 0.11. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a 1 year low of $18.67 and a 1 year high of $33.24. The business has a 50 day moving average price of $21.18 and a 200 day moving average price of $23.88.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the prior year, the firm earned $0.61 EPS. Conagra Brands's revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands's dividend payout ratio is presently 58.58%.

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.