Probity Advisors Inc. Has $449,000 Holdings in Conagra Brands, Inc. (NYSE:CAG)

Probity Advisors Inc. raised its stake in Conagra Brands, Inc. (NYSE:CAG) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,822 shares of the company’s stock after buying an additional 1,208 shares during the quarter. Probity Advisors Inc.’s holdings in Conagra Brands were worth $449,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CAG. Chicago Partners Investment Group LLC acquired a new position in Conagra Brands in the 4th quarter valued at approximately $207,000. Integrated Advisors Network LLC acquired a new position in Conagra Brands in the 4th quarter valued at approximately $266,000. Centaurus Financial Inc. acquired a new position in Conagra Brands in the 4th quarter valued at approximately $169,000. HighPoint Advisor Group LLC acquired a new position in Conagra Brands in the 4th quarter valued at approximately $259,000. Finally, Nomura Holdings Inc. acquired a new position in Conagra Brands in the 4th quarter valued at approximately $277,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI dropped their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Price Performance

NYSE CAG opened at $29.71 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $31.15 and a 200 day simple moving average of $30.29. The company has a market cap of $14.20 billion, a P/E ratio of 40.71, a P/E/G ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data 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 firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) 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.