HighTower Advisors LLC Sells 4,789 Shares of Conagra Brands, Inc. (NYSE:CAG)

HighTower Advisors LLC cut its position in Conagra Brands, Inc. (NYSE:CAG) by 3.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 155,577 shares of the company’s stock after selling 4,789 shares during the quarter. HighTower Advisors LLC’s holdings in Conagra Brands were worth $5,066,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAG. Holocene Advisors LP bought a new position in shares of Conagra Brands during the third quarter valued at $65,932,000. Benjamin Edwards Inc. raised its position in Conagra Brands by 386.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 17,073 shares of the company’s stock worth $555,000 after buying an additional 13,560 shares during the last quarter. Kestra Investment Management LLC bought a new position in Conagra Brands during the 3rd quarter valued at about $848,000. Erste Asset Management GmbH purchased a new stake in shares of Conagra Brands during the 3rd quarter valued at about $452,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Conagra Brands by 13.5% in the third quarter. Rockefeller Capital Management L.P. now owns 297,533 shares of the company’s stock worth $9,675,000 after acquiring an additional 35,319 shares during the period. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAG shares. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Up 0.3 %

CAG stock opened at $27.84 on Wednesday. The business’s 50-day moving average price is $28.50 and its 200-day moving average price is $29.63. The stock has a market cap of $13.28 billion, a P/E ratio of 27.02, a PEG ratio of 2.80 and a beta of 0.31. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.03%. Conagra Brands’s dividend payout ratio is presently 135.92%.

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.