Raymond James & Associates Sells 1,486,248 Shares of Conagra Brands, Inc. (NYSE:CAG)

Raymond James & Associates cut its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 78.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 403,071 shares of the company's stock after selling 1,486,248 shares during the period. Raymond James & Associates owned 0.08% of Conagra Brands worth $13,108,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Conagra Brands by 266.5% during the 3rd quarter. Blue Trust Inc. now owns 7,824 shares of the company's stock worth $254,000 after buying an additional 5,689 shares in the last quarter. Inspire Advisors LLC raised its position in shares of Conagra Brands by 6.9% during the third quarter. Inspire Advisors LLC now owns 53,411 shares of the company's stock worth $1,737,000 after purchasing an additional 3,433 shares during the period. Trust Point Inc. purchased a new stake in Conagra Brands in the 3rd quarter valued at $214,000. Aaron Wealth Advisors LLC raised its position in Conagra Brands by 40.9% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 10,507 shares of the company's stock valued at $342,000 after buying an additional 3,049 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its position in Conagra Brands by 151.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 25,097 shares of the company's stock valued at $816,000 after buying an additional 15,110 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares of the company's stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

Conagra Brands Stock Up 1.1 %

Conagra Brands stock traded up $0.33 during mid-day trading on Monday, hitting $29.76. The company had a trading volume of 2,426,560 shares, compared to its average volume of 4,733,158. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock's 50 day moving average price is $31.04 and its two-hundred day moving average price is $30.25. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24. The company has a market capitalization of $14.20 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.03 and a beta of 0.32.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm's revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side 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. Investors of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands's dividend payout ratio (DPR) is presently 135.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAG. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Evercore ISI decreased their target price on Conagra Brands from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, July 12th. Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $31.63.

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.