Eudaimonia Partners LLC Trims Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Eudaimonia Partners LLC trimmed its position in Conagra Brands, Inc. (NYSE:CAGGet Rating) by 68.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,788 shares of the company’s stock after selling 14,548 shares during the period. Eudaimonia Partners LLC’s holdings in Conagra Brands were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Conagra Brands by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,185 shares of the company’s stock worth $2,155,000 after acquiring an additional 3,975 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Conagra Brands by 0.4% in the first quarter. Great West Life Assurance Co. Can now owns 309,389 shares of the company’s stock worth $10,942,000 after acquiring an additional 1,186 shares in the last quarter. Synovus Financial Corp boosted its holdings in Conagra Brands by 3.7% in the first quarter. Synovus Financial Corp now owns 22,548 shares of the company’s stock worth $758,000 after acquiring an additional 807 shares in the last quarter. Blair William & Co. IL boosted its holdings in Conagra Brands by 19.8% in the first quarter. Blair William & Co. IL now owns 27,151 shares of the company’s stock worth $911,000 after acquiring an additional 4,487 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Conagra Brands by 509.0% during the first quarter. Allianz Asset Management GmbH now owns 366,225 shares of the company’s stock valued at $12,294,000 after purchasing an additional 306,086 shares in the last quarter. 81.08% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of CAG opened at $37.26 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. The business has a 50-day simple moving average of $38.29 and a two-hundred day simple moving average of $35.81. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.01 and a beta of 0.57. Conagra Brands, Inc. has a 52 week low of $30.06 and a 52 week high of $41.30.

Conagra Brands (NYSE:CAGGet Rating) last issued its quarterly earnings results on Thursday, January 5th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Conagra Brands had a return on equity of 14.38% and a net margin of 5.66%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, analysts expect that Conagra Brands, Inc. will post 2.67 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 2nd. Shareholders of record on Monday, January 30th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, January 27th. Conagra Brands’s payout ratio is 93.62%.

Insiders Place Their Bets

In related news, SVP Robert G. Wise sold 50,000 shares of the stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $40.90, for a total transaction of $2,045,000.00. Following the completion of the sale, the senior vice president now owns 22,717 shares in the company, valued at $929,125.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CAG shares. UBS Group upped their price target on Conagra Brands from $41.00 to $45.00 and gave the company a “buy” rating in a report on Friday, January 6th. Royal Bank of Canada upped their price target on Conagra Brands from $35.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, January 6th. Evercore ISI upped their price target on Conagra Brands from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 29th. Stifel Nicolaus upped their price target on Conagra Brands from $35.00 to $44.00 in a report on Friday, January 6th. Finally, BNP Paribas began coverage on Conagra Brands in a report on Tuesday, November 15th. They set an “outperform” rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $40.45.

About Conagra Brands

(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.

Featured Stories

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAGGet Rating).

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

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.