Private Trust Co. NA Trims Stake in Conagra Brands, Inc. (NYSE:CAG)

Private Trust Co. NA trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,991 shares of the company’s stock after selling 2,283 shares during the quarter. Private Trust Co. NA’s holdings in Conagra Brands were worth $325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAG. Innealta Capital LLC purchased a new stake in Conagra Brands in the second quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC increased its stake in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares in the last quarter. LRI Investments LLC purchased a new position in Conagra Brands during the 1st quarter valued at about $42,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Conagra Brands during the third quarter worth about $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $27.45 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34. The business has a 50-day simple moving average of $29.47 and a two-hundred day simple moving average of $29.85. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24.

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

Conagra Brands Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CAG shares. Bank of America lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company increased their target price 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. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.63.

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.