Sigma Planning Corp Cuts Position in Conagra Brands, Inc. (NYSE:CAG)

Sigma Planning Corp lessened its holdings in Conagra Brands, Inc. (NYSE:CAG) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,442 shares of the company’s stock after selling 992 shares during the period. Sigma Planning Corp’s holdings in Conagra Brands were worth $290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $28,000. Grove Bank & Trust boosted its stake in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $44,000. Asset Planning Inc purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $53,000. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after buying an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAG. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Citigroup dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Barclays dropped their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.67.

Conagra Brands Trading Down 0.1 %

Shares of CAG stock opened at $25.54 on Friday. The company’s fifty day simple moving average is $25.98 and its two-hundred day simple moving average is $28.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Monday, January 27th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.48%. Conagra Brands’s payout ratio is currently 137.25%.

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.