Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 35.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,574 shares of the company’s stock after selling 40,365 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Conagra Brands were worth $2,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Conagra Brands during the 4th quarter valued at approximately $140,473,000. AMF Tjanstepension AB acquired a new stake in Conagra Brands in the first quarter valued at $47,980,000. Junto Capital Management LP bought a new position in Conagra Brands during the 4th quarter valued at $36,069,000. Miller Howard Investments Inc. NY grew its holdings in Conagra Brands by 523.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after acquiring an additional 1,214,859 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Conagra Brands in the 1st quarter worth about $18,268,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CAG shares. Stifel Nicolaus decreased their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Barclays dropped their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Royal Bank of Canada dropped their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company decreased their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.90.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded up $0.16 during trading hours on Friday, hitting $31.20. The stock had a trading volume of 5,061,766 shares, compared to its average volume of 4,655,764. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The stock’s fifty day simple moving average is $29.73 and its 200 day simple moving average is $29.55. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $31.82.

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

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

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.