AdvisorNet Financial Inc Decreases Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

AdvisorNet Financial Inc decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 19.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,089 shares of the company’s stock after selling 992 shares during the quarter. AdvisorNet Financial Inc’s holdings in Conagra Brands were worth $116,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CAG. First United Bank & Trust purchased a new stake in shares of Conagra Brands in the fourth quarter valued at $26,000. Naples Money Management LLC purchased a new position in Conagra Brands in the 4th quarter worth about $26,000. Advantage Trust Co purchased a new position in Conagra Brands in the 4th quarter worth about $34,000. Parkside Financial Bank & Trust grew its holdings in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after acquiring an additional 454 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG traded down $0.69 during trading on Thursday, reaching $30.13. 3,624,177 shares of the company’s stock were exchanged, compared to its average volume of 4,638,545. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The stock has a market capitalization of $14.40 billion, a P/E ratio of 41.41, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32. The company’s fifty day simple moving average is $29.26 and its 200-day simple moving average is $29.38. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $31.82.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the firm earned $0.62 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.40 annualized dividend and a yield of 4.65%. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CAG shares. Barclays lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Citigroup decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday. They issued a “buy” rating and a $36.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average price target of $31.45.

Insiders Place Their Bets

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at approximately $3,439,523.98. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Conagra Brands 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.