Atria Investments Inc Sells 61,418 Shares of Conagra Brands, Inc. (NYSE:CAG)

Atria Investments Inc trimmed its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 58.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,988 shares of the company's stock after selling 61,418 shares during the period. Atria Investments Inc's holdings in Conagra Brands were worth $1,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAG. Innealta Capital LLC bought a new position in shares of Conagra Brands in the second quarter valued at $25,000. Chilton Capital Management LLC acquired 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% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock worth $30,000 after purchasing an additional 420 shares during the period. LRI Investments LLC acquired a new position in shares of Conagra Brands in the 1st quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the 3rd quarter valued at $47,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Down 2.7 %

NYSE CAG traded down $0.75 on Friday, reaching $26.70. The stock had a trading volume of 10,674,028 shares, compared to its average volume of 4,736,162. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The business has a 50 day moving average price of $30.20 and a 200 day moving average price of $30.03. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company's quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. On average, analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued 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 5.24%. Conagra Brands's dividend payout ratio is currently 135.92%.

Wall Street Analyst Weigh In

A number of analysts have commented on CAG shares. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a "buy" rating and a $36.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Bank of America reduced 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Six 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, Conagra Brands has an average rating of "Hold" and an average target price of $31.63.

Conagra Brands Company 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.