Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV trimmed its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 21.0% in the 4th quarter, HoldingsChannel reports. The firm owned 61,845 shares of the company’s stock after selling 16,486 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Conagra Brands were worth $1,716,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands during the 4th quarter worth about $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands in the 4th quarter valued at about $29,000. Grove Bank & Trust boosted its position in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the period. SBI Securities Co. Ltd. purchased a new position in Conagra Brands during the 4th quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new position in Conagra Brands during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 1.4 %

NYSE CAG opened at $23.02 on Thursday. Conagra Brands, Inc. has a 52-week low of $22.87 and a 52-week high of $33.24. The firm has a 50-day moving average price of $25.54 and a 200 day moving average price of $26.46. The stock has a market capitalization of $10.99 billion, a P/E ratio of 22.56, a P/E/G ratio of 1.76 and a beta of 0.18. 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 posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. Equities research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.08%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands’s dividend payout ratio (DPR) is 205.88%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CAG shares. Barclays increased their price objective on Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target for the company. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Stifel Nicolaus decreased their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.80.

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.