Kovitz Investment Group Partners LLC Has $600,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Kovitz Investment Group Partners LLC decreased its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 75.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,451 shares of the company's stock after selling 55,382 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Conagra Brands were worth $600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC purchased 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 Conagra Brands in the 2nd quarter worth $25,000. Hexagon Capital Partners LLC grew its stake 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 valued at $30,000 after acquiring an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands during the third quarter valued at about $47,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Conagra Brands during the third quarter worth about $59,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Trading Up 0.1 %

Shares of NYSE:CAG traded up $0.03 during midday trading on Friday, reaching $28.10. The company had a trading volume of 1,511,312 shares, compared to its average volume of 4,758,886. The company has a fifty day simple moving average of $28.42 and a two-hundred day simple moving average of $29.61. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 2.86 and a beta of 0.31. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm's revenue was down 3.8% compared to the same quarter last year. Research analysts predict that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.98%. Conagra Brands's payout ratio is presently 135.92%.

Analysts Set New Price Targets

CAG has been the subject of a number of analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. 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 report on Thursday, October 17th. Bank of America decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Finally, Citigroup dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday. Six equities research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $31.50.

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.