Naples Global Advisors LLC Decreases Stake in Conagra Brands, Inc. (NYSE:CAG)

Naples Global Advisors LLC decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,070 shares of the company’s stock after selling 1,703 shares during the quarter. Naples Global Advisors LLC’s holdings in Conagra Brands were worth $2,194,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brookstone Capital Management increased its holdings in shares of Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after purchasing an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Conagra Brands by 110.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after acquiring an additional 19,329 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after acquiring an additional 618,096 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $1,020,000. Finally, Pacer Advisors Inc. increased its stake in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Seven 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 stock. According to MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Stock Performance

Shares of CAG opened at $24.76 on Thursday. Conagra Brands, Inc. has a 1 year low of $24.18 and a 1 year high of $33.24. The company’s 50 day simple moving average is $26.55 and its 200 day simple moving average is $28.79. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.70 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.65%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

Conagra Brands Company 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.