Citigroup Inc. Has $14.20 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Citigroup Inc. decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 420,973 shares of the company’s stock after selling 33,539 shares during the quarter. Citigroup Inc. owned approximately 0.09% of Conagra Brands worth $14,195,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in Conagra Brands by 2.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,610 shares of the company’s stock worth $361,000 after buying an additional 267 shares in the last quarter. M&T Bank Corp lifted its holdings in Conagra Brands by 0.5% during the 1st quarter. M&T Bank Corp now owns 54,602 shares of the company’s stock worth $2,051,000 after buying an additional 277 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Conagra Brands by 1.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 17,224 shares of the company’s stock worth $647,000 after buying an additional 280 shares in the last quarter. Ellevest Inc. lifted its holdings in Conagra Brands by 4.2% during the 1st quarter. Ellevest Inc. now owns 7,338 shares of the company’s stock worth $276,000 after buying an additional 298 shares in the last quarter. Finally, Czech National Bank lifted its stake in shares of Conagra Brands by 0.5% in the 2nd quarter. Czech National Bank now owns 56,456 shares of the company’s stock valued at $1,904,000 after purchasing an additional 307 shares during the period. Institutional investors and hedge funds own 84.27% of the company’s stock.

Insider Activity

In other Conagra Brands news, Director Richard H. Lenny acquired 9,238 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was bought at an average cost of $27.31 per share, with a total value of $252,289.78. Following the completion of the transaction, the director now directly owns 165,205 shares in the company, valued at approximately $4,511,748.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target on Conagra Brands from $37.00 to $33.00 in a research note on Thursday, October 5th. Morgan Stanley dropped their price objective on shares of Conagra Brands from $37.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, October 9th. Jefferies Financial Group reduced their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, October 6th. StockNews.com started coverage on Conagra Brands in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reduced their price objective on Conagra Brands from $36.00 to $32.00 and set a “sector perform” rating for the company in a research report on Friday, October 6th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.15.

Conagra Brands Trading Down 0.3 %

Shares of Conagra Brands stock opened at $28.10 on Tuesday. The stock has a market cap of $13.43 billion, a P/E ratio of 12.49, a P/E/G ratio of 2.73 and a beta of 0.61. The company has a quick ratio of 0.30, a current ratio of 0.91 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $41.30. The business’s 50 day moving average is $27.68 and its 200-day moving average is $31.20.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, October 5th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. Conagra Brands had a net margin of 8.80% and a return on equity of 15.49%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business earned $0.57 EPS. Conagra Brands’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts predict that Conagra Brands, Inc. will post 2.68 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 2nd will be given a $0.35 dividend. The ex-dividend date is Wednesday, November 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.98%. Conagra Brands’s payout ratio is 62.22%.

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.