Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,980 shares of the company’s stock after selling 400 shares during the quarter. Hummer Financial Advisory Services Inc’s holdings in Conagra Brands were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. grew its holdings in Conagra Brands by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after acquiring an additional 1,330,249 shares in the last quarter. Norges Bank purchased a new position in Conagra Brands in the fourth quarter valued at $140,473,000. Charles Schwab Investment Management Inc. raised its stake in Conagra Brands by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,857,207 shares of the company’s stock valued at $81,888,000 after buying an additional 127,739 shares in the last quarter. AMF Tjanstepension AB purchased a new stake in Conagra Brands during the 1st quarter worth about $47,980,000. Finally, Raymond James & Associates lifted its holdings in Conagra Brands by 26.2% during the 1st quarter. Raymond James & Associates now owns 1,497,014 shares of the company’s stock worth $44,371,000 after buying an additional 310,386 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG traded down $0.15 during midday trading on Friday, reaching $30.15. 2,135,989 shares of the company were exchanged, compared to its average volume of 4,620,892. The stock has a market cap of $14.41 billion, a P/E ratio of 41.30, a PEG ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $31.82. The stock has a fifty day simple moving average of $29.23 and a 200 day simple moving average of $29.36. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts forecast that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.64%. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Insider Buying and Selling

In other news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the transaction, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Citigroup dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Evercore ISI reduced their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $31.18.

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.