Conagra Brands, Inc. (NYSE:CAG) Stake Lessened by Sasco Capital Inc. CT

Sasco Capital Inc. CT decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 659,500 shares of the company's stock after selling 117,350 shares during the period. Conagra Brands makes up about 3.2% of Sasco Capital Inc. CT's holdings, making the stock its 13th biggest position. Sasco Capital Inc. CT owned approximately 0.14% of Conagra Brands worth $21,447,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Courier Capital LLC increased its holdings in Conagra Brands by 1.3% in 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 in the last quarter. CWM LLC grew its holdings in shares of Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company's stock worth $2,836,000 after acquiring an additional 359 shares during the period. Empirical Finance LLC raised its holdings in Conagra Brands by 2.3% during the third quarter. Empirical Finance LLC now owns 16,379 shares of the company's stock worth $533,000 after purchasing an additional 362 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company's stock worth $1,716,000 after purchasing an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew 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 0.5 %

Shares of NYSE CAG traded down $0.12 on Tuesday, hitting $26.49. The company had a trading volume of 5,070,012 shares, compared to its average volume of 4,742,674. 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, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24. The firm has a market capitalization of $12.64 billion, a P/E ratio of 25.91, a PEG ratio of 2.75 and a beta of 0.34. The business has a 50 day moving average of $30.07 and a two-hundred day moving average of $30.00.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the business earned $0.66 EPS. The firm's revenue was down 3.8% compared to the same quarter last year. 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 firm also recently announced 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 annualized dividend and a dividend yield of 5.29%. Conagra Brands's dividend payout ratio is presently 135.92%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CAG shares. 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 on the stock. 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 report on Thursday, October 17th. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a research note on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $31.63.

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.