Resources Investment Advisors LLC. Lowers Position in Conagra Brands Inc (NYSE:CAG)

Resources Investment Advisors LLC. cut its stake in Conagra Brands Inc (NYSE:CAG) by 98.6% in the 2nd quarter, reports. The institutional investor owned 1,069 shares of the company’s stock after selling 76,127 shares during the quarter. Resources Investment Advisors LLC.’s holdings in Conagra Brands were worth $28,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Berman Capital Advisors LLC lifted its position in Conagra Brands by 86.2% during the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after buying an additional 444 shares during the period. CSat Investment Advisory L.P. increased its stake in shares of Conagra Brands by 101.4% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock worth $33,000 after acquiring an additional 592 shares in the last quarter. Kavar Capital Partners LLC bought a new position in shares of Conagra Brands in the 2nd quarter worth about $34,000. Optimum Investment Advisors lifted its position in Conagra Brands by 335.7% during the 1st quarter. Optimum Investment Advisors now owns 1,307 shares of the company’s stock valued at $36,000 after acquiring an additional 1,007 shares during the period. Finally, Coastal Investment Advisors Inc. lifted its position in Conagra Brands by 4,160.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,704 shares of the company’s stock valued at $46,000 after acquiring an additional 1,664 shares during the period. 87.22% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands stock traded up $0.27 during trading hours on Wednesday, hitting $29.72. The stock had a trading volume of 116,224 shares, compared to its average volume of 3,616,782. The company has a quick ratio of 0.54, a current ratio of 1.28 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $14.32 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Conagra Brands Inc has a 12-month low of $20.22 and a 12-month high of $38.43. The stock’s 50-day moving average price is $28.64 and its 200-day moving average price is $27.92.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, research analysts expect that Conagra Brands Inc will post 2.11 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Tuesday, July 30th were given a $0.2125 dividend. The ex-dividend date was Monday, July 29th. This represents a $0.85 annualized dividend and a yield of 2.86%. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.

In other Conagra Brands news, Director Ruth Ann Marshall sold 3,000 shares of Conagra Brands stock in a transaction on Monday, July 1st. The stock was sold at an average price of $27.00, for a total value of $81,000.00. Following the completion of the sale, the director now owns 102,387 shares of the company’s stock, valued at approximately $2,764,449. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Craig P. Omtvedt bought 25,000 shares of Conagra Brands stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $26.73 per share, with a total value of $668,250.00. The disclosure for this purchase can be found here. Insiders sold a total of 33,589 shares of company stock worth $929,334 over the last ninety days. 0.84% of the stock is currently owned by insiders.

A number of equities research analysts have weighed in on CAG shares. SunTrust Banks assumed coverage on shares of Conagra Brands in a report on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price objective on the stock. Bank of America set a $35.00 target price on shares of Conagra Brands and gave the company a “buy” rating in a report on Friday, June 28th. Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $31.00 in a research report on Friday, September 6th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target on the stock in a research note on Monday, July 8th. Finally, UBS Group set a $32.00 price target on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.36.

Conagra Brands Company 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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