CIBC Asset Management Inc Sells 77,868 Shares of Conagra Brands, Inc. (NYSE:CAG)

CIBC Asset Management Inc reduced its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 48.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,033 shares of the company's stock after selling 77,868 shares during the quarter. CIBC Asset Management Inc's holdings in Conagra Brands were worth $2,733,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at $25,000. Hexagon Capital Partners LLC boosted its position in shares of 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 purchasing an additional 420 shares in the last quarter. LRI Investments LLC acquired a new position in Conagra Brands in the first quarter worth approximately $42,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands during the third quarter valued at $47,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their target price 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. Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a research note on Monday, August 12th. They set a "buy" rating and a $36.00 target price for the company. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Six investment 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. According to MarketBeat.com, Conagra Brands currently has an average rating of "Hold" and an average price target of $31.63.

Conagra Brands Stock Up 0.9 %

Shares of Conagra Brands stock traded up $0.23 during trading hours on Wednesday, reaching $26.71. 2,100,828 shares of the company's stock were exchanged, compared to its average volume of 4,730,714. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $29.95 and a two-hundred day moving average of $29.97. The stock has a market cap of $12.75 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.75 and a beta of 0.34. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data 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 net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The business's quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands's dividend payout ratio is currently 135.92%.

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.