Foster & Motley Inc. Sells 5,016 Shares of Conagra Brands, Inc. (NYSE:CAG)

Foster & Motley Inc. trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,771 shares of the company’s stock after selling 5,016 shares during the period. Foster & Motley Inc.’s holdings in Conagra Brands were worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Conagra Brands during the 2nd quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the second quarter worth about $25,000. First United Bank & Trust bought a new position in shares of Conagra Brands in the fourth quarter valued at approximately $26,000. Advantage Trust Co purchased a new position in Conagra Brands during the fourth quarter valued at approximately $34,000. Finally, Whittier Trust Co. grew its stake in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after acquiring an additional 836 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction that occurred on 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 directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Citigroup decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Evercore ISI lowered their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.90.

Conagra Brands Stock Up 0.4 %

Shares of NYSE CAG opened at $32.53 on Friday. The stock has a market capitalization of $15.55 billion, a P/E ratio of 44.56, a PEG ratio of 2.86 and a beta of 0.32. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $32.81. The firm’s 50 day simple moving average is $29.99 and its two-hundred day simple moving average is $29.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS. As a group, analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.30%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio is presently 191.78%.

About Conagra Brands

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.