CENTRAL TRUST Co Decreases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

CENTRAL TRUST Co decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 36.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,251 shares of the company’s stock after selling 4,159 shares during the period. CENTRAL TRUST Co’s holdings in Conagra Brands were worth $236,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in Conagra Brands in the third quarter valued at about $3,449,000. Courier Capital LLC raised its position in shares of Conagra Brands by 1.3% in the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after purchasing an additional 355 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in shares of Conagra Brands by 100.0% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 4,000 shares of the company’s stock valued at $130,000 after buying an additional 2,000 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Conagra Brands during the third quarter worth approximately $816,000. Finally, Signaturefd LLC increased its stake in shares of Conagra Brands by 4.2% in the third quarter. Signaturefd LLC now owns 25,142 shares of the company’s stock worth $818,000 after buying an additional 1,008 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CAG. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating 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 for the company in a research note on Thursday, October 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Stifel Nicolaus dropped their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. 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’s stock. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $31.63.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.51% of the company’s stock.

Conagra Brands Trading Up 0.3 %

Shares of NYSE:CAG opened at $29.43 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The company has a market cap of $14.05 billion, a PE ratio of 28.57, a P/E/G ratio of 3.03 and a beta of 0.32. The company’s 50-day moving average price is $31.06 and its 200 day moving average price is $30.25.

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

Conagra Brands Announces Dividend

The firm 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 4.76%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

About Conagra Brands

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.