Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Conagra Brands, Inc. (NYSE:CAG) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 845,814 shares of the company’s stock after selling 11,432 shares during the period. Rhumbline Advisers’ holdings in Conagra Brands were worth $23,471,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Courier Capital LLC grew its position in shares of Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after purchasing an additional 355 shares during the last quarter. Empirical Finance LLC boosted its position in Conagra Brands by 2.3% during the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after acquiring an additional 362 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after acquiring an additional 376 shares during the last quarter. Bridgewater Advisors Inc. boosted its position in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after acquiring an additional 376 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 1.5 %

Shares of CAG opened at $24.27 on Thursday. The firm has a market cap of $11.58 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.72 and a beta of 0.28. The company’s fifty day moving average is $26.26 and its two-hundred day moving average is $28.59. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $0.71 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio is presently 137.26%.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Stifel Nicolaus decreased their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday. Bank of America decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seven equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.78.

About Conagra Brands

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.