Amalgamated Bank Lowers Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Amalgamated Bank lessened its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 29.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,996 shares of the company's stock after selling 38,300 shares during the quarter. Amalgamated Bank's holdings in Conagra Brands were worth $3,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Conagra Brands in the second quarter valued at about $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands in the second quarter worth about $25,000. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock valued at $30,000 after acquiring an additional 420 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Conagra Brands during the 1st quarter worth approximately $42,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAG shares. The Goldman Sachs Group began coverage on Conagra Brands in a research report on Monday, August 12th. They set a "buy" rating and a $36.00 price target on the stock. Bank of America lowered their price objective on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price target on Conagra Brands from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $31.63.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares in the company, valued at $4,890,108.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.51% of the company's stock.

Conagra Brands Stock Performance

NYSE CAG traded down $0.70 during trading hours on Monday, hitting $27.74. The company's stock had a trading volume of 6,293,040 shares, compared to its average volume of 4,704,851. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24. The company's 50 day simple moving average is $30.60 and its two-hundred day simple moving average is $30.13. The company has a market cap of $13.24 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.93 and a beta of 0.34. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Conagra Brands's quarterly revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.05%. Conagra Brands's dividend payout ratio is currently 135.92%.

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.