Conagra Brands (NYSE:CAG) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Conagra Brands by 31.6%, holding approximately $7.21 million worth of stock at the end of the last quarter.
• Analysts are concerned, with several firms lowering their price targets for Conagra Brands from $21 to $20, indicating a "neutral" or "hold" rating.
• Conagra Brands recently announced a quarterly dividend of $0.35, yielding about 7.29%, with an upcoming payment date of August 28th for stockholders of record on July 30th.

Skandinaviska Enskilda Banken AB publ reduced its position in Conagra Brands (NYSE:CAG - Free Report) by 31.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 270,508 shares of the company's stock after selling 124,712 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Conagra Brands worth $7,214,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in shares of Conagra Brands in the 1st quarter valued at about $26,000. Capital Advisors Ltd. LLC raised its stake in shares of Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after purchasing an additional 452 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings 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 acquiring an additional 741 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Conagra Brands during the 1st quarter valued at $34,000. Finally, AdvisorNet Financial Inc raised its position in Conagra Brands by 86.1% in the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after acquiring an additional 690 shares in 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 analysts recently commented on the stock. Barclays decreased their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price target for the company from $26.00 to $21.00 in a report on Monday, June 9th. Evercore ISI dropped their price target on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research report on Friday, July 11th. Royal Bank Of Canada cut their price target on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, July 11th. Finally, Wells Fargo & Company cut 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $22.58.

Conagra Brands Stock Down 0.0%

Shares of Conagra Brands stock traded down $0.01 during trading on Thursday, reaching $18.53. The company's stock had a trading volume of 4,156,763 shares, compared to its average volume of 7,395,599. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 7.75, a P/E/G ratio of 1.85 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 $18.28 and a 1-year high of $33.24. The company has a 50-day simple moving average of $20.95 and a two-hundred day simple moving average of $23.75.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate 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 quarter 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. As a group, equities analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands's dividend payout ratio is presently 58.58%.

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.