Pathstone Holdings LLC Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Pathstone Holdings LLC trimmed its stake in Conagra Brands, Inc. (NYSE:CAG) by 20.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,705 shares of the company’s stock after selling 32,859 shares during the period. Pathstone Holdings LLC’s holdings in Conagra Brands were worth $4,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC lifted its position 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 purchasing an additional 420 shares during the period. LRI Investments LLC bought a new position in shares of Conagra Brands in the 1st quarter worth about $44,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth about $47,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.9 %

NYSE:CAG opened at $27.42 on Friday. The firm has a market cap of $13.09 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.80 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm has a 50-day simple moving average of $29.67 and a two-hundred day simple moving average of $29.91.

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

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is presently 135.92%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CAG shares. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price target on shares of 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average price target of $31.63.

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.