Private Trust Co. NA Sells 2,283 Shares of Conagra Brands, Inc. (NYSE:CAG)

Private Trust Co. NA cut its holdings in Conagra Brands, Inc. (NYSE:CAG) by 18.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,991 shares of the company’s stock after selling 2,283 shares during the period. Private Trust Co. NA’s holdings in Conagra Brands were worth $325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new position in Conagra Brands in the 2nd quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands in the second quarter worth about $25,000. Hexagon Capital Partners LLC raised its stake in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. LRI Investments LLC bought a new position in shares of Conagra Brands in the first quarter worth about $42,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.63.

Conagra Brands Stock Down 0.1 %

Shares of CAG stock opened at $27.45 on Thursday. The company’s fifty day simple moving average is $29.47 and its two-hundred day simple moving average is $29.85. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The stock has a market cap of $13.10 billion, a P/E ratio of 26.65, a PEG ratio of 2.83 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. Analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. Conagra Brands’s dividend payout ratio is currently 135.92%.

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.