Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 30.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,607 shares of the company’s stock after selling 14,804 shares during the quarter. Tidal Investments LLC’s holdings in Conagra Brands were worth $1,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in Conagra Brands in the 2nd quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands during the second quarter worth $25,000. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands in the third quarter worth about $47,000. Finally, Kennebec Savings Bank acquired a new position in Conagra Brands during the third quarter worth about $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 2.0 %

Shares of CAG stock opened at $26.81 on Friday. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The firm has a market cap of $12.80 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. The company has a 50-day moving average of $28.26 and a two-hundred day moving average of $29.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

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

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is 135.92%.

Wall Street Analyst Weigh In

A number of analysts have commented on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Bank of America dropped their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday. Six 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.38.

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.