Slocum Gordon & Co LLP Sells 3,481 Shares of Conagra Brands, Inc. (NYSE:CAG)

Slocum Gordon & Co LLP decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,230 shares of the company’s stock after selling 3,481 shares during the period. Slocum Gordon & Co LLP’s holdings in Conagra Brands were worth $867,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands in the fourth quarter worth about $28,000. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the period. Abich Financial Wealth Management LLC bought a new stake in shares of Conagra Brands during the third quarter valued at approximately $47,000. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $24.99 on Friday. The company has a market cap of $11.93 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 52-week low of $24.85 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm’s fifty day moving average is $26.78 and its two-hundred day moving average is $28.93.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.60%. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

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.