Bank of Montreal Can Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Bank of Montreal Can lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 889,951 shares of the company’s stock after selling 31,365 shares during the quarter. Bank of Montreal Can owned about 0.19% of Conagra Brands worth $28,897,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CAG. Chilton Capital Management LLC bought a new stake in Conagra Brands in the second quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the second quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its holdings in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares during the period. LRI Investments LLC bought a new position in Conagra Brands in the 1st quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC bought a new position in Conagra Brands in the 3rd quarter valued at $47,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.4 %

Conagra Brands stock opened at $27.55 on Friday. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The business has a fifty day moving average of $29.26 and a two-hundred day moving average of $29.82. The firm has a market cap of $13.15 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.83 and a beta of 0.34. 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 (NYSE:CAG) last posted its earnings results 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). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. On average, analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 135.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CAG shares. Bank of America lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands 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, Wells Fargo & Company lifted their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Six investment 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 stock has an average rating of “Hold” and an average price target of $31.63.

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.