Stifel Financial Corp cut its holdings in Conagra Brands Inc (NYSE:CAG) by 29.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 317,463 shares of the company’s stock after selling 132,872 shares during the period. Stifel Financial Corp’s holdings in Conagra Brands were worth $9,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in Conagra Brands by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 51,657 shares of the company’s stock worth $1,370,000 after purchasing an additional 737 shares during the period. Manning & Napier Group LLC grew its position in shares of Conagra Brands by 38.5% during the 2nd quarter. Manning & Napier Group LLC now owns 138,693 shares of the company’s stock valued at $3,677,000 after acquiring an additional 38,564 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Conagra Brands by 14.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 15,458 shares of the company’s stock worth $410,000 after purchasing an additional 2,007 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Conagra Brands by 8.8% in the 2nd quarter. Arizona State Retirement System now owns 250,250 shares of the company’s stock worth $6,637,000 after purchasing an additional 20,259 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in Conagra Brands by 200.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 247,757 shares of the company’s stock worth $6,571,000 after purchasing an additional 165,400 shares during the period. Institutional investors and hedge funds own 87.70% of the company’s stock.

CAG has been the subject of several recent research reports. Citigroup boosted their price target on Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 27th. Royal Bank of Canada assumed coverage on shares of Conagra Brands in a research note on Thursday, October 17th. They issued a “sector perform” rating and a $30.00 price target on the stock. Credit Suisse Group reissued a “hold” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, September 19th. ValuEngine upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Berenberg Bank assumed coverage on Conagra Brands in a report on Thursday, November 14th. They issued a “hold” rating and a $29.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.00.

In related news, EVP Colleen Batcheler sold 25,458 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.00, for a total transaction of $763,740.00. Following the transaction, the executive vice president now directly owns 169,873 shares in the company, valued at approximately $5,096,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas M. Mcgough sold 26,099 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.00, for a total transaction of $809,069.00. Following the completion of the sale, the chief operating officer now directly owns 145,869 shares in the company, valued at $4,521,939. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Shares of NYSE:CAG opened at $28.60 on Wednesday. The firm has a fifty day simple moving average of $28.00 and a two-hundred day simple moving average of $28.53. Conagra Brands Inc has a 52 week low of $20.22 and a 52 week high of $32.80. The company has a quick ratio of 0.40, a current ratio of 1.11 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $14.05 billion, a P/E ratio of 14.65, a PEG ratio of 1.95 and a beta of 0.85.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 26th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.48 billion. The business’s revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. On average, analysts expect that Conagra Brands Inc will post 2.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 1st were given a dividend of $0.2125 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.85 dividend on an annualized basis and a yield of 2.97%. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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