Pensionfund Sabic Sells 4,000 Shares of Conagra Brands, Inc. (NYSE:CAG)

Pensionfund Sabic lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,500 shares of the company’s stock after selling 4,000 shares during the quarter. Pensionfund Sabic’s holdings in Conagra Brands were worth $1,154,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands in the second quarter worth about $25,000. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares in the last quarter. Whittier Trust Co. increased its position in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares during the period. Finally, LRI Investments LLC purchased a new position in Conagra Brands during the 1st quarter valued at about $42,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company cut their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Stifel Nicolaus cut their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Evercore ISI reduced their target price 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. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $31.63.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction on 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 directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.51% of the company’s stock.

Conagra Brands Trading Up 0.4 %

Shares of Conagra Brands stock opened at $29.43 on Friday. The stock has a 50 day moving average of $31.20 and a 200 day moving average of $30.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a fifty-two week low of $26.51 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. As a group, research analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 135.92%.

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.