Carolina Wealth Advisors LLC Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Carolina Wealth Advisors LLC decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 138,983 shares of the company’s stock after selling 2,327 shares during the period. Conagra Brands accounts for 2.1% of Carolina Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest position. Carolina Wealth Advisors LLC’s holdings in Conagra Brands were worth $3,857,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the period. Two Sigma Advisers LP grew its position in Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after buying an additional 3,133,200 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Conagra Brands during the 3rd quarter valued at $65,932,000. Finally, State Street Corp grew its position in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after acquiring an additional 1,691,945 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 1.8 %

NYSE CAG opened at $25.58 on Thursday. The stock’s fifty day moving average price is $27.35 and its 200-day moving average price is $29.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a market cap of $12.21 billion, a P/E ratio of 25.08, a P/E/G ratio of 1.76 and a beta of 0.29. Conagra Brands, Inc. has a 12 month low of $25.43 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating 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 business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business earned $0.71 EPS. Conagra Brands’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.47%. Conagra Brands’s payout ratio is 137.26%.

Analysts Set New Price Targets

CAG has been the subject of several research analyst reports. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.56.

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.