Fidelis Capital Partners LLC Has $355,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Fidelis Capital Partners LLC decreased its position in Conagra Brands, Inc. (NYSE:CAG) by 4.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,929 shares of the company’s stock after selling 514 shares during the period. Fidelis Capital Partners LLC’s holdings in Conagra Brands were worth $355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Conagra Brands by 237.9% in the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after purchasing an additional 54,195 shares during the period. SG Americas Securities LLC boosted its stake in Conagra Brands by 261.3% in the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock worth $4,360,000 after purchasing an additional 106,368 shares during the period. M&G Plc acquired a new position in Conagra Brands in the 1st quarter worth approximately $7,429,000. UniSuper Management Pty Ltd boosted its stake in Conagra Brands by 573.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after purchasing an additional 32,396 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in Conagra Brands in the 3rd quarter worth approximately $3,829,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

CAG has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Bank of America decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.63.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.51% of the company’s stock.

Conagra Brands Price Performance

Conagra Brands stock opened at $29.43 on Thursday. The company has a market capitalization of $14.05 billion, a P/E ratio of 28.57, a P/E/G ratio of 3.03 and a beta of 0.32. The firm’s fifty day simple moving average is $30.98 and its 200-day simple moving average is $30.25. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. Sell-side analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.76%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

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.