Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 0.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 464,012 shares of the company’s stock after selling 1,620 shares during the period. Bahl & Gaynor Inc.’s holdings in Conagra Brands were worth $13,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Conagra Brands during the fourth quarter worth approximately $140,473,000. AMF Tjanstepension AB purchased a new stake in Conagra Brands during the first quarter worth approximately $47,980,000. Junto Capital Management LP purchased a new stake in Conagra Brands during the fourth quarter worth approximately $36,069,000. Miller Howard Investments Inc. NY lifted its stake in Conagra Brands by 523.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after purchasing an additional 1,214,859 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Conagra Brands during the first quarter worth approximately $18,268,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Conagra Brands stock opened at $31.47 on Thursday. The business has a 50 day simple moving average of $30.32 and a 200-day simple moving average of $29.82. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.24. The stock has a market capitalization of $15.04 billion, a PE ratio of 43.11, a price-to-earnings-growth ratio of 3.00 and a beta of 0.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Conagra Brands’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.45%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company decreased their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.90.

Insider Buying and Selling at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the 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 sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by corporate insiders.

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.