GPS Wealth Strategies Group LLC Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

GPS Wealth Strategies Group LLC trimmed its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 50.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,286 shares of the company’s stock after selling 15,749 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Conagra Brands were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Conagra Brands during the second quarter worth $829,000. Czech National Bank raised its stake in shares of Conagra Brands by 7.1% during the 3rd quarter. Czech National Bank now owns 97,587 shares of the company’s stock worth $3,174,000 after buying an additional 6,488 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Conagra Brands by 17.8% in the 3rd quarter. GAMMA Investing LLC now owns 27,828 shares of the company’s stock worth $905,000 after buying an additional 4,207 shares in the last quarter. Mather Group LLC. grew its stake in Conagra Brands by 51.0% in the 3rd quarter. Mather Group LLC. now owns 4,638 shares of the company’s stock valued at $151,000 after acquiring an additional 1,567 shares during the last quarter. Finally, Williams & Novak LLC acquired a new stake in Conagra Brands in the 3rd quarter valued at about $211,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.89 on Monday. The stock has a fifty day moving average price of $26.97 and a 200 day moving average price of $29.05. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 52 week low of $25.06 and a 52 week high of $33.24. The firm has a market capitalization of $12.36 billion, a P/E ratio of 25.38, a PEG ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the firm posted $0.71 EPS. The company’s revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.41%. Conagra Brands’s dividend payout ratio is presently 137.26%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Barclays dropped their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Bank of America reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Stifel Nicolaus dropped their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Seven equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.33.

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.