MML Investors Services LLC Trims Position in Conagra Brands, Inc. (NYSE:CAG)

MML Investors Services LLC lowered its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 74.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,789 shares of the company's stock after selling 86,163 shares during the period. MML Investors Services LLC's holdings in Conagra Brands were worth $969,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CAG. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands in the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new position in Conagra Brands in the second quarter valued at about $25,000. Hexagon Capital Partners LLC grew 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 acquiring an additional 420 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands during the 3rd quarter worth approximately $47,000. Finally, Kennebec Savings Bank bought a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $59,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG traded up $0.30 during trading hours on Friday, reaching $27.11. 14,502,491 shares of the stock traded hands, compared to its average volume of 4,837,550. The company has a market capitalization of $12.94 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. The company's 50-day simple moving average is $28.26 and its two-hundred day simple moving average is $29.54. 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 52-week low of $26.21 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.15 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm's revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.58 EPS 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 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands's payout ratio is 135.92%.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent research reports. Wells Fargo & Company decreased their target price on Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday. Finally, Bank of America reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.88.

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.