Neo Ivy Capital Management Lowers Position in Conagra Brands, Inc. (NYSE:CAG)

Neo Ivy Capital Management cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 64.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,340 shares of the company's stock after selling 65,516 shares during the quarter. Neo Ivy Capital Management's holdings in Conagra Brands were worth $1,182,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Courier Capital LLC grew its holdings in shares of Conagra Brands by 1.3% during the third quarter. Courier Capital LLC now owns 27,062 shares of the company's stock valued at $880,000 after buying an additional 355 shares during the last quarter. CWM LLC boosted its holdings in Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company's stock valued at $2,836,000 after purchasing an additional 359 shares during the last quarter. Empirical Finance LLC boosted its holdings in Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company's stock valued at $533,000 after purchasing an additional 362 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Conagra Brands by 0.7% in the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company's stock valued at $1,716,000 after purchasing an additional 376 shares during the last quarter. Finally, Bridgewater Advisors Inc. boosted its holdings in Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company's stock valued at $820,000 after purchasing an additional 376 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 0.1 %

Conagra Brands stock traded down $0.03 during mid-day trading on Wednesday, reaching $27.81. 1,537,907 shares of the company's stock were exchanged, compared to its average volume of 4,758,448. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The company has a fifty day moving average of $28.50 and a 200-day moving average of $29.63. The company has a market cap of $13.27 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.80 and a beta of 0.31. 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 (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share 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 during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Conagra Brands's revenue for the quarter was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.03%. Conagra Brands's dividend payout ratio is currently 135.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAG shares. Citigroup decreased 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 report on Wednesday. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company increased 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. Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, October 3rd. Finally, BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of "Hold" and a consensus 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.