Tobam Has $734,000 Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Tobam lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 43.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,458 shares of the company’s stock after selling 20,398 shares during the quarter. Tobam’s holdings in Conagra Brands were worth $734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Conagra Brands in the 4th quarter valued at about $28,000. Hexagon Capital Partners LLC grew its stake in Conagra Brands by 82.8% in the third 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. Grove Bank & Trust grew its stake in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares during the period. Abich Financial Wealth Management LLC bought a new stake in shares of Conagra Brands during the third quarter valued at approximately $47,000. Finally, ST Germain D J Co. Inc. raised its position in shares of Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after purchasing an additional 529 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG stock opened at $24.99 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $11.93 billion, a PE ratio of 24.50, a P/E/G ratio of 1.76 and a beta of 0.28. The business has a 50 day moving average of $26.78 and a 200-day moving average of $28.93. Conagra Brands, Inc. has a 12-month low of $24.85 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data 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 firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’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 EPS. As a group, sell-side analysts expect that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.60%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is 137.26%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Bank of America decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. dropped their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Conagra Brands has an average rating of “Hold” and an average target price of $30.33.

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.