Bell Bank Sells 25,538 Shares of Conagra Brands, Inc. (NYSE:CAG)

Bell Bank lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,705 shares of the company’s stock after selling 25,538 shares during the quarter. Bell Bank’s holdings in Conagra Brands were worth $5,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Federated Hermes Inc. increased its holdings in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after buying an additional 633,794 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Conagra Brands by 148.2% during the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after buying an additional 1,513,726 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after acquiring an additional 2,242,186 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Conagra Brands by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after acquiring an additional 78,487 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.1 %

Shares of CAG opened at $27.64 on Thursday. The stock has a market capitalization of $13.19 billion, a P/E ratio of 26.83, a PEG ratio of 2.85 and a beta of 0.34. Conagra Brands, Inc. has a twelve month low of $26.62 and a twelve month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $30.42 and a two-hundred day simple moving average of $30.09.

Conagra Brands (NYSE:CAG) last posted its 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). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.07%. Conagra Brands’s dividend payout ratio is 135.92%.

Analysts Set New Price Targets

A number of research firms have weighed in on CAG. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.