Cable Hill Partners LLC Decreases Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Cable Hill Partners LLC reduced its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,270 shares of the company’s stock after selling 1,088 shares during the period. Cable Hill Partners LLC’s holdings in Conagra Brands were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Courier Capital LLC lifted its position in Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after acquiring an additional 355 shares during the last quarter. CWM LLC lifted its position in Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after acquiring an additional 359 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Conagra Brands by 0.7% in the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after acquiring an additional 376 shares during the last quarter. Bridgewater Advisors Inc. lifted its position in Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after acquiring an additional 376 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in 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 acquiring an additional 420 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Down 0.7 %

Shares of Conagra Brands stock opened at $27.46 on Friday. Conagra Brands, Inc. has a 52-week low of $26.62 and a 52-week high of $33.24. 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’s 50-day simple moving average is $30.32 and its 200-day simple moving average is $30.07. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.10%. Conagra Brands’s payout ratio is currently 135.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CAG. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Six investment 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.63.

Conagra Brands 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.