Whittier Trust Co. of Nevada Inc. Decreases Stake in Conagra Brands, Inc. (NYSE:CAG)

Whittier Trust Co. of Nevada Inc. lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 45.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,790 shares of the company’s stock after selling 1,506 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Conagra Brands were worth $58,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after purchasing an additional 633,794 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after purchasing an additional 1,513,726 shares in the last quarter. Marshall Wace LLP lifted its holdings in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after purchasing an additional 2,242,186 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Conagra Brands by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock valued at $65,209,000 after purchasing an additional 78,487 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CAG. Stifel Nicolaus decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Evercore ISI reduced their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Bank of America reduced their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Citigroup reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Down 0.3 %

Shares of CAG opened at $29.35 on Friday. The firm has a market cap of $14.01 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 3.03 and a beta of 0.32. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24. The company’s 50-day moving average price is $31.08 and its 200 day moving average price is $30.27. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

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). The company had revenue of $2.79 billion during 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 firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.77%. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.51% of the stock is owned by insiders.

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.