Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Paragon Capital Management Ltd

Paragon Capital Management Ltd reduced its holdings in Conagra Brands, Inc. (NYSE:CAG) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,555 shares of the company’s stock after selling 1,526 shares during the quarter. Paragon Capital Management Ltd’s holdings in Conagra Brands were worth $210,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position in Conagra Brands by 82.8% in 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. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands in the 4th quarter valued at approximately $28,000. Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands in the 3rd quarter valued at approximately $47,000. Kennebec Savings Bank bought a new position in Conagra Brands during the 3rd quarter valued at $59,000. Finally, Quarry LP boosted its stake in Conagra Brands by 229.7% during the 3rd quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after purchasing an additional 1,268 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAG. 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 Friday, December 20th. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company reduced their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Seven investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Price Performance

CAG opened at $25.58 on Thursday. The stock has a fifty day moving average of $27.35 and a 200-day moving average of $29.28. The firm has a market capitalization of $12.21 billion, a P/E ratio of 25.08, a PEG 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. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. Equities analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.47%. Conagra Brands’s payout ratio is currently 137.26%.

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.