International Assets Investment Management LLC Sells 79,561 Shares of Conagra Brands, Inc. (NYSE:CAG)

International Assets Investment Management LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 73.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,431 shares of the company’s stock after selling 79,561 shares during the quarter. International Assets Investment Management LLC’s holdings in Conagra Brands were worth $815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CAG. Asset Management One Co. Ltd. lifted its holdings in Conagra Brands by 5.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 468,095 shares of the company’s stock worth $13,373,000 after buying an additional 22,537 shares during the period. Private Trust Co. NA lifted its stake in shares of Conagra Brands by 8.8% in the 4th quarter. Private Trust Co. NA now owns 12,376 shares of the company’s stock valued at $355,000 after purchasing an additional 1,003 shares during the period. Arizona State Retirement System boosted its position in shares of Conagra Brands by 0.9% during the fourth quarter. Arizona State Retirement System now owns 131,365 shares of the company’s stock valued at $3,765,000 after purchasing an additional 1,213 shares in the last quarter. Seed Wealth Management Inc. purchased a new stake in Conagra Brands in the fourth quarter worth $218,000. Finally, Camelot Portfolios LLC raised its holdings in Conagra Brands by 19.4% in the fourth quarter. Camelot Portfolios LLC now owns 24,782 shares of the company’s stock worth $710,000 after purchasing an additional 4,018 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Royal Bank of Canada decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Stifel Nicolaus boosted their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Wells Fargo & Company raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Finally, Citigroup boosted their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $33.14.

Conagra Brands Stock Performance

Shares of CAG stock opened at $31.27 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average price of $28.98 and a 200-day moving average price of $28.61. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $38.73. The firm has a market capitalization of $14.95 billion, a PE ratio of 15.71, a P/E/G ratio of 3.07 and a beta of 0.41.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio is 70.35%.

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.