Royal Fund Management LLC Sells 5,900 Shares of Conagra Brands, Inc. (NYSE:CAG)

Royal Fund Management LLC lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 22.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,162 shares of the company’s stock after selling 5,900 shares during the period. Royal Fund Management LLC’s holdings in Conagra Brands were worth $680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Bank & Trust raised its stake in Conagra Brands by 4.6% in the second quarter. First Bank & Trust now owns 45,604 shares of the company’s stock worth $1,538,000 after buying an additional 2,009 shares in the last quarter. Brookstone Capital Management raised its stake in Conagra Brands by 2.1% in the second quarter. Brookstone Capital Management now owns 30,272 shares of the company’s stock worth $1,006,000 after buying an additional 618 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Conagra Brands in the second quarter worth approximately $221,000. Czech National Bank raised its stake in Conagra Brands by 0.5% in the second quarter. Czech National Bank now owns 56,456 shares of the company’s stock worth $1,904,000 after buying an additional 307 shares in the last quarter. Finally, Telemus Capital LLC bought a new position in Conagra Brands in the second quarter worth approximately $233,000. Institutional investors own 84.27% of the company’s stock.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 75,522 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $33.07, for a total value of $2,497,512.54. Following the completion of the transaction, the chief operating officer now owns 157,125 shares of the company’s stock, valued at approximately $5,196,123.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CAG shares. TheStreet downgraded Conagra Brands from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $43.00 to $36.00 in a report on Friday, July 14th. Morgan Stanley downgraded shares of Conagra Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $46.00 to $37.00 in a research report on Monday, July 17th. StockNews.com began coverage on shares of Conagra Brands in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, August 21st. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.62.

Conagra Brands Stock Performance

Conagra Brands stock opened at $28.73 on Tuesday. The firm has a 50 day simple moving average of $31.00 and a 200-day simple moving average of $34.21. Conagra Brands, Inc. has a 1-year low of $28.35 and a 1-year high of $41.30. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.76 and a quick ratio of 0.26. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 13th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a net margin of 5.57% and a return on equity of 15.19%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, analysts expect that Conagra Brands, Inc. will post 2.71 EPS for the current year.

Conagra Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, July 31st were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend was Friday, July 28th. This is a boost from Conagra Brands’s previous quarterly dividend of $0.33. Conagra Brands’s dividend payout ratio (DPR) is currently 98.59%.

About Conagra Brands

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.