Orion Portfolio Solutions LLC Trims Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Orion Portfolio Solutions LLC reduced its stake in Conagra Brands, Inc. (NYSE:CAGGet Rating) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,700 shares of the company’s stock after selling 1,202 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Conagra Brands were worth $2,523,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CAG. Vanguard Group Inc. increased its stake in Conagra Brands by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 54,738,710 shares of the company’s stock worth $1,837,578,000 after buying an additional 786,816 shares during the period. BlackRock Inc. raised its stake in shares of Conagra Brands by 26.2% in the first quarter. BlackRock Inc. now owns 43,420,694 shares of the company’s stock valued at $1,457,630,000 after acquiring an additional 9,004,956 shares in the last quarter. State Street Corp boosted its holdings in Conagra Brands by 12.8% in the first quarter. State Street Corp now owns 23,556,766 shares of the company’s stock valued at $790,801,000 after purchasing an additional 2,671,720 shares during the period. Invesco Ltd. grew its stake in Conagra Brands by 10.7% during the 1st quarter. Invesco Ltd. now owns 8,716,615 shares of the company’s stock worth $292,616,000 after purchasing an additional 841,538 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Conagra Brands by 4.4% during the 1st quarter. Bank of America Corp DE now owns 5,085,658 shares of the company’s stock worth $170,726,000 after purchasing an additional 215,014 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $34.76 on Friday. Conagra Brands, Inc. has a 12 month low of $30.06 and a 12 month high of $36.97. The firm has a market capitalization of $16.69 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.03 and a beta of 0.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31. The company’s fifty day moving average price is $34.33 and its 200 day moving average price is $33.92.

Conagra Brands (NYSE:CAGGet Rating) last posted its earnings results on Thursday, July 14th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.41 earnings per share for the current fiscal year.

Conagra Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 3rd were issued a $0.33 dividend. This is an increase from Conagra Brands’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Tuesday, August 2nd. Conagra Brands’s dividend payout ratio is presently 71.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group lifted their price objective on Conagra Brands from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, July 8th. Credit Suisse Group lowered their price target on shares of Conagra Brands from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Citigroup dropped their price objective on shares of Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Conagra Brands from $35.00 to $32.00 in a research report on Friday, July 15th. Finally, Morgan Stanley dropped their target price on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.67.

Insider Transactions at Conagra Brands

In other Conagra Brands news, Director Emanuel Chirico purchased 30,000 shares of Conagra Brands stock in a transaction that occurred on Monday, July 25th. The stock was purchased at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the transaction, the director now directly owns 40,788 shares in the company, valued at $1,389,239.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Thomas M. Mcgough sold 21,405 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total value of $757,737.00. Following the transaction, the chief operating officer now owns 104,859 shares of the company’s stock, valued at $3,712,008.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Emanuel Chirico purchased 30,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were bought at an average price of $34.06 per share, with a total value of $1,021,800.00. Following the purchase, the director now directly owns 40,788 shares of the company’s stock, valued at $1,389,239.28. The disclosure for this purchase can be found here. Insiders own 0.98% of the company’s stock.

Conagra Brands Company Profile

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

Further Reading

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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