MML Investors Services LLC Cuts Stock Position in Conagra Brands, Inc. (NYSE:CAG)

MML Investors Services LLC cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 74.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 29,789 shares of the company’s stock after selling 86,163 shares during the period. MML Investors Services LLC’s holdings in Conagra Brands were worth $969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth about $25,000. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC boosted its stake 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 worth $30,000 after acquiring an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands during the third quarter worth approximately $47,000. Finally, Kennebec Savings Bank acquired a new position in Conagra Brands in the 3rd quarter valued at $59,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CAG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Citigroup dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America dropped their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company reduced their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.38.

Conagra Brands Stock Down 2.0 %

CAG stock opened at $26.81 on Friday. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The firm has a market cap of $12.80 billion, a PE ratio of 26.03, a PEG ratio of 2.91 and a beta of 0.31. The firm’s 50 day moving average price is $28.26 and its 200-day moving average price is $29.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.58 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.22%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

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.