Corient Private Wealth LLC Sells 46,053 Shares of Conagra Brands $CAG

Corient Private Wealth LLC trimmed its holdings in Conagra Brands (NYSE:CAG) by 20.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,015 shares of the company’s stock after selling 46,053 shares during the period. Corient Private Wealth LLC’s holdings in Conagra Brands were worth $3,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in Conagra Brands in the 2nd quarter worth approximately $26,000. Harbour Investments Inc. raised its position in shares of Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after buying an additional 701 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands during the second quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Conagra Brands in the third quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Conagra Brands by 100.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Insider Buying and Selling

In related news, Director John J. Mulligan purchased 17,500 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the acquisition, the director owned 20,728 shares of the company’s stock, valued at $296,617.68. The trade was a 542.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Lenny purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was bought at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the acquisition, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings downgraded shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. BTIG Research started coverage on shares of Conagra Brands in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Finally, TD Cowen cut their price objective on Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $14.13.

Conagra Brands Stock Up 2.0%

Shares of NYSE CAG opened at $14.06 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $21.37. The firm’s 50-day moving average price is $13.71 and its 200-day moving average price is $16.06. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of -140.59, a P/E/G ratio of -0.87 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.Conagra Brands’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. On average, equities research analysts anticipate that Conagra Brands will post 1.7 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a yield of 10.0%. Conagra Brands’s payout ratio is -1,400.00%.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.