Centaurus Financial Inc. Lowers Position in Conagra Brands, Inc. (NYSE:CAG)

Centaurus Financial Inc. lessened its stake in Conagra Brands, Inc. (NYSE:CAG) by 21.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,916 shares of the company’s stock after selling 1,364 shares during the quarter. Centaurus Financial Inc.’s holdings in Conagra Brands were worth $160,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aigen Investment Management LP purchased a new stake in Conagra Brands in the 3rd quarter valued at $1,020,000. Pacer Advisors Inc. grew its stake in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Conagra Brands in the third quarter valued at about $3,829,000. Swedbank AB purchased a new stake in shares of Conagra Brands in the first quarter valued at about $18,268,000. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Conagra Brands during the third quarter valued at about $967,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

NYSE CAG opened at $27.45 on Thursday. The company has a market cap of $13.10 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm’s 50-day simple moving average is $29.47 and its two-hundred day simple moving average is $29.85. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last released 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). 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 during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. 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 was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. Conagra Brands’s payout ratio is 135.92%.

Wall Street Analyst Weigh In

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

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.