Janney Montgomery Scott LLC Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Janney Montgomery Scott LLC trimmed its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 42.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,932 shares of the company's stock after selling 61,065 shares during the quarter. Janney Montgomery Scott LLC's holdings in Conagra Brands were worth $2,729,000 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 acquired a new position in shares of Conagra Brands in the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands in the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC lifted 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 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 worth approximately $42,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the 3rd quarter worth approximately $47,000. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America dropped their target price 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 assumed 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. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted 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 note on Thursday, October 17th. 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's stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of "Hold" and an average price target of $31.63.

Conagra Brands Stock Performance

CAG traded down $0.06 during trading on Tuesday, hitting $27.68. 6,136,659 shares of the company traded hands, compared to its average volume of 4,711,391. The firm has a market cap of $13.21 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.34. The stock's fifty day moving average is $30.60 and its 200 day moving average is $30.13. 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, Inc. has a one year low of $26.62 and a one year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion for 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%. Conagra Brands's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.06%. Conagra Brands's payout ratio is currently 135.92%.

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.