Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 34.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,609 shares of the company’s stock after selling 12,364 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Conagra Brands were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CAG. Innealta Capital LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth about $25,000. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC grew its position in shares of Conagra Brands by 82.8% in the 3rd 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. LRI Investments LLC acquired a new stake in Conagra Brands during the 1st quarter worth $42,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands during the 3rd quarter worth $47,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Down 2.8 %

NYSE CAG opened at $26.69 on Friday. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The firm has a 50-day moving average price of $30.20 and a 200 day moving average price of $30.04. The stock has a market capitalization of $12.74 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.85 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share 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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company earned $0.66 EPS. The company’s revenue was down 3.8% on a year-over-year basis. Equities research analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.25%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CAG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Bank of America decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.