Carolina Wealth Advisors LLC Cuts Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Carolina Wealth Advisors LLC cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,310 shares of the company’s stock after selling 7,050 shares during the period. Conagra Brands makes up 2.3% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 18th biggest position. Carolina Wealth Advisors LLC’s holdings in Conagra Brands were worth $4,595,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Nomura Holdings Inc. bought a new stake in Conagra Brands during the fourth quarter valued at approximately $277,000. Mather Group LLC. bought a new position in shares of Conagra Brands during the 1st quarter valued at approximately $65,000. Czech National Bank increased its position in Conagra Brands by 0.5% in the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after purchasing an additional 392 shares during the last quarter. Park Avenue Securities LLC raised its stake in Conagra Brands by 17.7% during the first quarter. Park Avenue Securities LLC now owns 11,903 shares of the company’s stock valued at $353,000 after purchasing an additional 1,794 shares in the last quarter. Finally, F&V Capital Management LLC lifted its position in Conagra Brands by 1.3% during the first quarter. F&V Capital Management LLC now owns 337,019 shares of the company’s stock valued at $9,989,000 after purchasing an additional 4,170 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CAG shares. 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. Stifel Nicolaus reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company raised their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, Evercore ISI lowered their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Trading Down 2.7 %

Shares of NYSE:CAG traded down $0.82 on Monday, hitting $29.50. 1,755,275 shares of the company’s stock were exchanged, compared to its average volume of 4,763,878. The business’s 50 day simple moving average is $31.15 and its two-hundred day simple moving average is $30.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.75%. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

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.