Outfitter Financial LLC Sells 26,405 Shares of Conagra Brands (NYSE:CAG)

Outfitter Financial LLC lowered its stake in Conagra Brands (NYSE:CAG) by 70.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,255 shares of the company’s stock after selling 26,405 shares during the quarter. Outfitter Financial LLC’s holdings in Conagra Brands were worth $300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Conagra Brands in the first quarter valued at about $26,000. Capital Advisors Ltd. LLC increased its position in shares of Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 452 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after acquiring an additional 741 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Conagra Brands during the first quarter worth approximately $34,000. Finally, AdvisorNet Financial Inc increased its position in Conagra Brands by 86.1% during the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company’s stock worth $40,000 after buying an additional 690 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CAG shares. The Goldman Sachs Group downgraded Conagra Brands from a “neutral” rating to a “sell” rating and decreased their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Morgan Stanley decreased their target price on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, July 11th. Bank of America downgraded Conagra Brands from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Wells Fargo & Company decreased their target price on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 9th. Finally, Stifel Nicolaus cut their price target on Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, July 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands has an average rating of “Hold” and an average price target of $22.58.

Conagra Brands Stock Performance

CAG stock traded up $0.15 during midday trading on Friday, reaching $19.12. 1,016,663 shares of the company’s stock traded hands, compared to its average volume of 6,058,309. The company has a 50-day moving average price of $21.62 and a two-hundred day moving average price of $24.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. Conagra Brands has a 52 week low of $18.80 and a 52 week high of $33.24. The firm has a market capitalization of $9.13 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.82 and a beta of 0.11.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion during the quarter, compared to the consensus estimate of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. As a group, equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.32%. The ex-dividend date is Wednesday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is 58.58%.

Conagra Brands 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.