Centiva Capital LP Sells 77,710 Shares of Conagra Brands, Inc. (NYSE:CAG)

Centiva Capital LP lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 74.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,664 shares of the company’s stock after selling 77,710 shares during the quarter. Centiva Capital LP’s holdings in Conagra Brands were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CAG. Mather Group LLC. boosted its position in shares of Conagra Brands by 35.0% in the second quarter. Mather Group LLC. now owns 3,071 shares of the company’s stock valued at $91,000 after acquiring an additional 796 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Conagra Brands by 8.6% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,382 shares of the company’s stock valued at $210,000 after purchasing an additional 582 shares in the last quarter. CWM LLC grew its position in shares of Conagra Brands by 1.6% during the 2nd quarter. CWM LLC now owns 86,863 shares of the company’s stock valued at $2,469,000 after purchasing an additional 1,406 shares in the last quarter. Lantz Financial LLC bought a new position in shares of Conagra Brands in the second quarter worth $201,000. Finally, Simplicity Wealth LLC raised its position in shares of Conagra Brands by 13.5% in the second quarter. Simplicity Wealth LLC now owns 35,421 shares of the company’s stock worth $1,007,000 after buying an additional 4,223 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of research analyst reports. Bank of America decreased their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their target price 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. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Performance

NYSE CAG opened at $27.81 on Friday. The company has a 50-day simple moving average of $28.89 and a two-hundred day simple moving average of $29.72. Conagra Brands, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.85 and a beta of 0.31. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

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 the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.03%. The ex-dividend date was Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

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.