GAMMA Investing LLC Trims Holdings in Conagra Brands, Inc. (NYSE:CAG)

GAMMA Investing LLC decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 33.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 18,543 shares of the company’s stock after selling 9,285 shares during the period. GAMMA Investing LLC’s holdings in Conagra Brands were worth $515,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Conagra Brands by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock valued at $18,660,000 after purchasing an additional 3,597 shares during the period. Inspire Trust Co. N.A. raised its position in shares of Conagra Brands by 14.7% in the third quarter. Inspire Trust Co. N.A. now owns 85,587 shares of the company’s stock worth $2,783,000 after buying an additional 11,000 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Conagra Brands during the third quarter valued at $196,000. Sanctuary Advisors LLC grew its position in Conagra Brands by 526.9% during the third quarter. Sanctuary Advisors LLC now owns 167,181 shares of the company’s stock worth $5,437,000 after buying an additional 140,512 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its stake in Conagra Brands by 0.5% in the 3rd quarter. Hohimer Wealth Management LLC now owns 134,073 shares of the company’s stock worth $4,360,000 after acquiring an additional 642 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.1 %

NYSE:CAG opened at $27.65 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $27.81 and a 200 day moving average of $29.42. The firm has a market capitalization of $13.20 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.91 and a beta of 0.29. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24.

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

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is presently 137.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAG. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Bank of America 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 report on Friday, December 20th. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Barclays dropped their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Seven equities research 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, the stock has a consensus rating of “Hold” and an average target price of $30.56.

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.