Prospera Private Wealth LLC Lowers Holdings in Conagra Brands, Inc. (NYSE:CAG)

Prospera Private Wealth LLC lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 90.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,800 shares of the company’s stock after selling 17,668 shares during the period. Prospera Private Wealth LLC’s holdings in Conagra Brands were worth $59,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in shares of Conagra Brands in the 2nd quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in Conagra Brands during the second quarter worth $25,000. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Conagra Brands in the 1st quarter valued at $44,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth $47,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Shares of CAG opened at $27.12 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The stock has a 50-day moving average of $29.77 and a two-hundred day moving average of $29.93. The stock has a market cap of $12.94 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.73 and a beta of 0.34. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS 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 analyst estimates of $2.84 billion. During the same period last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.16%. Conagra Brands’s payout ratio is currently 135.92%.

Wall Street Analyst Weigh In

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

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.