Truvestments Capital LLC Sells 9,602 Shares of Conagra Brands, Inc. (NYSE:CAG)

Truvestments Capital LLC lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 76.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,974 shares of the company’s stock after selling 9,602 shares during the period. Truvestments Capital LLC’s holdings in Conagra Brands were worth $97,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAG. Pacer Advisors Inc. increased its holdings in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares during the period. Marshall Wace LLP increased its stake in Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after acquiring an additional 2,242,186 shares during the last quarter. Federated Hermes Inc. increased its stake in Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after acquiring an additional 1,871,238 shares during the last quarter. Squarepoint Ops LLC raised its position in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after purchasing an additional 1,513,726 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Conagra Brands by 2,552.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after purchasing an additional 1,241,121 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.1 %

Shares of NYSE CAG opened at $27.48 on Wednesday. The company has a 50 day simple moving average of $29.57 and a 200 day simple moving average of $29.88. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The firm has a market cap of $13.11 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released its quarterly 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). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the business posted $0.66 EPS. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. On average, research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

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 given a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Analyst Upgrades and Downgrades

CAG has been the topic of several recent analyst reports. Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 target price for the company. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Company 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.