Conagra Brands, Inc.

Two packaged-food giants both bleed red ink on paper, both offer yields that would make most retirees salivate, yet one has already slashed its payout while the other keeps insisting it won't.

Five household grocery names faced the same brutal pressures, but their dividends went in three different directions. The balance sheet details behind each decision reveal which income payouts are built to last and which still carry hidden risk.

Frank Rimerman Advisors LLC bought a new stake in Conagra Brands (NYSE: CAG) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 37,080 shares of the company's stock, valued at approximately $498,000. A number of other hedge funds and other institutional

IFP Advisors Inc raised its stake in Conagra Brands (NYSE: CAG) by 36.8% in the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,934 shares of the company's stock after acquiring an additional 83,371 shares during the period. IFP Advisors Inc

State of Alaska Department of Revenue lessened its stake in shares of Conagra Brands (NYSE: CAG) by 33.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,318 shares of the company's stock after selling 60,297 shares during the period. State of Alaska Department

A 30% yield sounds like a windfall until you see what is hiding behind it. These five dividend stocks all flash warning signs that income investors tend to overlook until after the cut arrives.

CAG's Foodservice profit momentum is fueled by organic sales growth and productivity gains, despite inflation and customer order timing challenges.

Conagra already cut its dividend in half and shares have lost nearly 60% over five years, yet income investors keep buying the yield.