Conagra Brands (NYSE:CAG) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Conagra Brands by 9.4%, selling 20,001 shares and now holding 192,693 shares valued at approximately $5.14 million.
• Several institutional investors, including Deutsche Bank AG and KBC Group NV, significantly increased their holdings in Conagra Brands during the past quarter.
• Analysts have recently downgraded Conagra Brands, with Bank of America lowering its rating to "underperform" and setting a target price of $20, compared to a consensus target price of $22.58.

US Bancorp DE decreased its position in Conagra Brands (NYSE:CAG - Free Report) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,693 shares of the company's stock after selling 20,001 shares during the quarter. US Bancorp DE's holdings in Conagra Brands were worth $5,139,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Alpine Bank Wealth Management acquired a new stake in Conagra Brands in the 1st quarter valued at about $26,000. Capital Advisors Ltd. LLC lifted its position in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in Conagra Brands during the first quarter worth $27,000. Golden State Wealth Management LLC boosted 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 worth $28,000 after acquiring an additional 741 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Conagra Brands during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Performance

CAG traded down $0.01 during trading on Friday, reaching $19.24. 5,104,572 shares of the company's stock were exchanged, compared to its average volume of 7,623,027. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. Conagra Brands has a 1 year low of $18.18 and a 1 year high of $33.24. The company's fifty day simple moving average is $20.49 and its 200-day simple moving average is $23.45. The stock has a market capitalization of $9.19 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.08.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $2,781,800 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%. Conagra Brands's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. As a group, research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. Conagra Brands's payout ratio is presently 58.58%.

Analysts Set New Price Targets

Several brokerages have commented on CAG. UBS Group dropped their target price on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a report on Friday, July 11th. Bank of America cut Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and cut their price target for the company from $26.00 to $21.00 in a research note on Monday, June 9th. Finally, Morgan Stanley lowered their target price on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Conagra Brands has an average rating of "Hold" and a consensus price target of $22.58.

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.