Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp reduced its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,314 shares of the company’s stock after selling 1,377 shares during the quarter. Hancock Whitney Corp’s holdings in Conagra Brands were worth $1,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAG. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Conagra Brands by 7.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after purchasing an additional 373 shares during the last quarter. Czech National Bank lifted its stake in Conagra Brands by 0.5% during the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after buying an additional 392 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its holdings in shares of Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after buying an additional 430 shares during the period. Courier Capital LLC increased its position in shares of Conagra Brands by 1.7% in the second quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock worth $759,000 after acquiring an additional 438 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock worth $334,000 after acquiring an additional 445 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.88% of the company’s stock.

Conagra Brands Stock Down 0.3 %

Shares of CAG stock opened at $32.30 on Monday. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market cap of $15.44 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. The stock has a 50 day moving average of $30.87 and a 200-day moving average of $30.05.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.33%. Conagra Brands’s payout ratio is currently 191.78%.

Analyst Ratings Changes

CAG has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Stifel Nicolaus lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays reduced their price objective on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Citigroup dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.10.

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.