Bleakley Financial Group LLC Sells 23,990 Shares of Conagra Brands, Inc. (NYSE:CAG)

Bleakley Financial Group LLC lessened its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 67.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,439 shares of the company's stock after selling 23,990 shares during the period. Bleakley Financial Group LLC's holdings in Conagra Brands were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in shares of Conagra Brands by 17.7% in the first quarter. Park Avenue Securities LLC now owns 11,903 shares of the company's stock valued at $353,000 after purchasing an additional 1,794 shares during the period. Brookstone Capital Management raised its holdings in Conagra Brands by 912.4% in the 1st quarter. Brookstone Capital Management now owns 339,927 shares of the company's stock valued at $10,075,000 after acquiring an additional 306,349 shares during the period. Sunbelt Securities Inc. lifted its position in Conagra Brands by 911.1% during the first quarter. Sunbelt Securities Inc. now owns 2,639 shares of the company's stock worth $78,000 after acquiring an additional 2,378 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Conagra Brands by 10.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 39,525 shares of the company's stock worth $1,172,000 after acquiring an additional 3,638 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in shares of Conagra Brands in the first quarter valued at approximately $47,980,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $29.49 on Wednesday. The company has a 50 day moving average of $31.13 and a 200-day moving average of $30.29. The company has a market cap of $14.10 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly 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). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The company's revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. 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 4.75%. Conagra Brands's dividend payout ratio (DPR) is currently 191.78%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Evercore ISI reduced 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. 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 research note on Thursday, October 17th. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, July 12th. Bank of America decreased 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. Finally, BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Six research 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $31.63.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction that occurred on 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 approximately $4,890,108.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.88% of the company's stock.

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.