Cary Street Partners Financial LLC Sells 108,410 Shares of Conagra Brands $CAG

Cary Street Partners Financial LLC cut its position in Conagra Brands (NYSE:CAG) by 55.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,412 shares of the company’s stock after selling 108,410 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Conagra Brands were worth $1,496,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in Conagra Brands in the second quarter worth about $26,000. MUFG Securities EMEA plc bought a new position in Conagra Brands in the second quarter worth about $29,000. Harbour Investments Inc. raised its holdings in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Conagra Brands in the third quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Conagra Brands by 100.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director John J. Mulligan acquired 17,500 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average cost of $14.31 per share, with a total value of $250,425.00. Following the purchase, the director owned 20,728 shares in the company, valued at $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard H. Lenny acquired 25,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average cost of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director owned 229,340 shares in the company, valued at $3,288,735.60. The trade was a 12.23% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.57% of the company’s stock.

Conagra Brands Trading Up 0.4%

Shares of NYSE:CAG opened at $13.39 on Friday. Conagra Brands has a 1 year low of $13.14 and a 1 year high of $22.98. The firm has a market capitalization of $6.40 billion and a price-to-earnings ratio of -133.84. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The business’s 50 day moving average price is $14.57 and its 200-day moving average price is $16.67.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business earned $0.51 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts forecast that Conagra Brands will post 1.7 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.5%. Conagra Brands’s dividend payout ratio (DPR) is -1,400.00%.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a report on Monday, March 30th. Royal Bank Of Canada cut their price objective on shares of Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. TD Cowen cut their price objective on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a report on Wednesday, March 25th. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 21st. Finally, Wells Fargo & Company cut their price objective on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $15.47.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.