Rhumbline Advisers Sells 11,432 Shares of Conagra Brands, Inc. (NYSE:CAG)

Rhumbline Advisers lowered its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 845,814 shares of the company's stock after selling 11,432 shares during the period. Rhumbline Advisers owned approximately 0.18% of Conagra Brands worth $23,471,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CAG. Creative Planning increased its holdings in shares of Conagra Brands by 6.1% in the third quarter. Creative Planning now owns 165,064 shares of the company's stock worth $5,368,000 after buying an additional 9,490 shares during the period. Blue Trust Inc. grew its stake in shares of Conagra Brands by 266.5% in the third quarter. Blue Trust Inc. now owns 7,824 shares of the company's stock worth $254,000 after purchasing an additional 5,689 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Conagra Brands by 46.3% in the third quarter. Sequoia Financial Advisors LLC now owns 17,979 shares of the company's stock worth $585,000 after purchasing an additional 5,693 shares during the last quarter. Signaturefd LLC grew its stake in shares of Conagra Brands by 4.2% in the third quarter. Signaturefd LLC now owns 25,142 shares of the company's stock worth $818,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Conagra Brands in the third quarter worth about $816,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

CAG has been the topic of several research reports. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday. Finally, Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $29.78.

Conagra Brands Stock Up 2.3 %

Shares of CAG traded up $0.55 during mid-day trading on Thursday, reaching $24.84. The company had a trading volume of 4,103,715 shares, compared to its average volume of 5,787,248. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28. The firm has a 50-day moving average price of $26.26 and a 200 day moving average price of $28.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

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 for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business earned $0.71 EPS. The firm's revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.45 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.64%. Conagra Brands's dividend payout ratio is presently 137.26%.

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.