Amalgamated Bank Sells 18,404 Shares of Conagra Brands, Inc. (NYSE:CAG)

Amalgamated Bank cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 13.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,433 shares of the company’s stock after selling 18,404 shares during the quarter. Amalgamated Bank’s holdings in Conagra Brands were worth $3,308,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in Conagra Brands by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 191,649 shares of the company’s stock worth $5,255,000 after purchasing an additional 2,207 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Conagra Brands by 13.9% in the third quarter. Mackenzie Financial Corp now owns 92,041 shares of the company’s stock worth $2,442,000 after buying an additional 11,265 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Conagra Brands by 23.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 161,204 shares of the company’s stock valued at $4,420,000 after acquiring an additional 30,263 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Conagra Brands by 29.0% during the 3rd quarter. Park Avenue Securities LLC now owns 16,034 shares of the company’s stock valued at $440,000 after acquiring an additional 3,601 shares during the period. Finally, Eads & Heald Wealth Management bought a new position in Conagra Brands during the 3rd quarter worth approximately $258,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CAG. Stifel Nicolaus boosted their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Citigroup upped their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Finally, Barclays boosted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.14.

Conagra Brands Stock Performance

Shares of CAG opened at $30.78 on Friday. The company has a 50-day simple moving average of $29.70 and a two-hundred day simple moving average of $28.88. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm has a market capitalization of $14.71 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 3.07 and a beta of 0.38. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $37.93.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. On average, analysts anticipate that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio is currently 70.35%.

Conagra Brands 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.