Palisade Asset Management LLC Sells 670 Shares of Conagra Brands, Inc. (NYSE:CAG)

Palisade Asset Management LLC trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,834 shares of the company’s stock after selling 670 shares during the period. Palisade Asset Management LLC’s holdings in Conagra Brands were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CAG. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the second quarter worth approximately $25,000. Hexagon Capital Partners LLC raised its stake in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the last quarter. LRI Investments LLC bought a new position in shares of Conagra Brands in the first quarter valued at approximately $44,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands during the third quarter valued at approximately $47,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 1.0 %

CAG stock opened at $27.43 on Friday. The stock has a fifty day moving average of $29.67 and a 200-day moving average of $29.91. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.80 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.10%. Conagra Brands’s payout ratio is 135.92%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Six 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 MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.63.

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.