HighTower Advisors LLC Sells 9,651 Shares of Conagra Brands, Inc. (NYSE:CAG)

HighTower Advisors LLC lessened its stake in Conagra Brands, Inc. (NYSE:CAGFree Report) by 2.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 465,548 shares of the company’s stock after selling 9,651 shares during the quarter. HighTower Advisors LLC’s holdings in Conagra Brands were worth $12,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Riverview Trust Co raised its stake in shares of Conagra Brands by 132.8% during the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock worth $26,000 after buying an additional 539 shares during the period. Thompson Investment Management Inc. raised its stake in shares of Conagra Brands by 100.0% during the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Authentikos Wealth Advisory LLC acquired a new position in shares of Conagra Brands during the 3rd quarter worth approximately $33,000. Glassman Wealth Services raised its stake in shares of Conagra Brands by 70.3% during the 2nd quarter. Glassman Wealth Services now owns 1,042 shares of the company’s stock worth $35,000 after buying an additional 430 shares during the period. Finally, Clear Street Markets LLC lifted its holdings in Conagra Brands by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock valued at $35,000 after purchasing an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 84.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAG. Citigroup began coverage on Conagra Brands in a report on Thursday, February 1st. They issued a “neutral” rating and a $30.00 price objective on the stock. Royal Bank of Canada decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 3rd. Evercore ISI lowered Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price objective on the stock. in a report on Monday, December 11th. Finally, Wells Fargo & Company initiated coverage on Conagra Brands in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $31.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.87.

Read Our Latest Report on Conagra Brands

Conagra Brands Stock Up 1.4 %

Shares of CAG opened at $27.78 on Tuesday. The firm has a market cap of $13.28 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.91 and a beta of 0.44. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $38.94. The company’s 50-day moving average price is $28.98 and its 200 day moving average price is $28.83. The company has a current ratio of 0.91, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83.

Conagra Brands (NYSE:CAGGet Free Report) last issued its quarterly earnings data on Thursday, January 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.23 billion. Conagra Brands had a net margin of 8.09% and a return on equity of 14.78%. Conagra Brands’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Tuesday, January 30th will be issued a $0.35 dividend. The ex-dividend date is Monday, January 29th. This represents a $1.40 annualized dividend and a yield of 5.04%. Conagra Brands’s dividend payout ratio (DPR) is currently 67.96%.

Conagra Brands Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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