Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 75.0% during the third quarter, HoldingsChannel reports. The fund owned 18,451 shares of the company’s stock after selling 55,382 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Conagra Brands were worth $600,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the second quarter valued at about $25,000. Hexagon Capital Partners LLC lifted its holdings in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $47,000. Finally, Kennebec Savings Bank purchased a new position in shares of Conagra Brands during the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CAG. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Citigroup dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report 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. Finally, Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus target price of $31.50.

Conagra Brands Stock Performance

NYSE:CAG opened at $28.05 on Friday. The firm’s fifty day simple moving average is $28.42 and its 200 day simple moving average is $29.61. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.80 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.99%. Conagra Brands’s dividend payout ratio is presently 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.