Naples Global Advisors LLC Lowers Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Naples Global Advisors LLC reduced its position in Conagra Brands, Inc. (NYSE:CAG) by 2.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 79,070 shares of the company’s stock after selling 1,703 shares during the period. Naples Global Advisors LLC’s holdings in Conagra Brands were worth $2,194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the 4th quarter worth about $28,000. Grove Bank & Trust increased its position in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Conagra Brands during the fourth quarter valued at approximately $44,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter worth $47,000. Finally, ST Germain D J Co. Inc. raised its stake in shares of Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after acquiring an additional 529 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAG. Barclays decreased their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America reduced their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Citigroup lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price 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. Seven 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’s stock. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Stock Performance

Conagra Brands stock opened at $24.76 on Thursday. Conagra Brands, Inc. has a 52 week low of $24.18 and a 52 week high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $11.82 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.28. The stock has a 50 day moving average of $26.55 and a 200-day moving average of $28.79.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. On average, analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

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

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.