US Bancorp DE Sells 25,807 Shares of Conagra Brands, Inc. (NYSE:CAG)

US Bancorp DE cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,798 shares of the company’s stock after selling 25,807 shares during the period. US Bancorp DE’s holdings in Conagra Brands were worth $6,888,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Conagra Brands in the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Conagra Brands in the second quarter worth $25,000. Hexagon Capital Partners LLC raised its position 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 in the last quarter. Whittier Trust Co. boosted its stake in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after buying an additional 836 shares during the period. Finally, LRI Investments LLC purchased a new position in Conagra Brands during the first quarter worth about $42,000. 83.75% of the stock is currently owned by institutional investors.

Insider Activity at Conagra Brands

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAG. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Evercore ISI cut their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Barclays lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company upped their target price on shares of 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, The Goldman Sachs Group started coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. 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. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Performance

Conagra Brands stock opened at $28.97 on Monday. The firm has a fifty day simple moving average of $30.92 and a two-hundred day simple moving average of $30.23. Conagra Brands, Inc. has a twelve month low of $26.62 and a twelve month high of $33.24. The company has a market capitalization of $13.83 billion, a PE ratio of 28.13, a P/E/G ratio of 2.98 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 issued its earnings results 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). 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 company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Research analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio 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.