Glenmede Trust Co. NA Has $1.47 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Glenmede Trust Co. NA reduced its holdings in Conagra Brands, Inc. (NYSE:CAG) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,221 shares of the company’s stock after selling 585 shares during the quarter. Glenmede Trust Co. NA’s holdings in Conagra Brands were worth $1,471,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bridgewater Associates LP bought a new stake in shares of Conagra Brands in the third quarter worth $1,091,000. Townsquare Capital LLC bought a new stake in shares of Conagra Brands in the 3rd quarter valued at about $283,000. BNP Paribas Financial Markets increased its stake in shares of Conagra Brands by 113.7% in the third quarter. BNP Paribas Financial Markets now owns 959,968 shares of the company’s stock valued at $31,218,000 after buying an additional 510,789 shares during the period. Brooklyn Investment Group bought a new position in shares of Conagra Brands during the third quarter worth about $123,000. Finally, FMR LLC lifted its stake in shares of Conagra Brands by 4.8% in the third quarter. FMR LLC now owns 1,478,380 shares of the company’s stock worth $48,077,000 after acquiring an additional 67,079 shares during the period. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, 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 for the company. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Performance

Shares of CAG opened at $27.55 on Monday. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The company has a market cap of $13.15 billion, a PE ratio of 26.75, a P/E/G ratio of 2.84 and a beta of 0.34. The stock has a 50-day moving average of $29.17 and a 200-day moving average of $29.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.08%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

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.