Castle Rock Wealth Management LLC Cuts Stake in Conagra Brands, Inc. (NYSE:CAG)

Castle Rock Wealth Management LLC trimmed its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 58.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,501 shares of the company's stock after selling 35,950 shares during the period. Castle Rock Wealth Management LLC's holdings in Conagra Brands were worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CAG. Federated Hermes Inc. boosted its position in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock valued at $313,004,000 after purchasing an additional 1,871,238 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company's stock valued at $122,602,000 after buying an additional 633,794 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company's stock worth $72,048,000 after buying an additional 1,513,726 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company's stock worth $68,400,000 after acquiring an additional 2,242,186 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Conagra Brands by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company's stock valued at $65,209,000 after acquiring an additional 78,487 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Insider Activity

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares of the company's stock, valued at $4,890,108.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, July 12th. Evercore ISI decreased their price target on Conagra Brands from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, July 12th. Stifel Nicolaus dropped their price target on Conagra Brands from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, July 12th. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a "buy" rating and a $36.00 price objective for the company. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of "Hold" and an average target price of $31.63.

Conagra Brands Stock Performance

NYSE:CAG traded down $0.07 during midday trading on Friday, hitting $29.37. The company's stock had a trading volume of 2,714,407 shares, compared to its average volume of 4,775,295. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a fifty-two week low of $26.51 and a fifty-two week high of $33.24. The firm's 50 day moving average is $31.20 and its 200-day moving average is $30.28. The firm has a market cap of $14.02 billion, a P/E ratio of 28.57, a P/E/G ratio of 3.01 and a beta of 0.32.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Equities analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.77%. Conagra Brands's payout ratio is 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.