Reliance Trust Co. of Delaware lessened its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 10.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,717 shares of the company’s stock after selling 1,321 shares during the period. Reliance Trust Co. of Delaware’s holdings in Conagra Brands were worth $250,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Regent Investment Management LLC raised its position in shares of Conagra Brands by 9.0% during the 4th quarter. Regent Investment Management LLC now owns 9,945 shares of the company’s stock worth $212,000 after acquiring an additional 820 shares in the last quarter. Vanguard Group Inc raised its position in shares of Conagra Brands by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 45,019,445 shares of the company’s stock worth $1,529,309,000 after acquiring an additional 362,347 shares in the last quarter. InterOcean Capital LLC raised its position in shares of Conagra Brands by 9.4% during the 3rd quarter. InterOcean Capital LLC now owns 89,770 shares of the company’s stock worth $3,049,000 after acquiring an additional 7,699 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Conagra Brands by 12.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,678,887 shares of the company’s stock worth $57,022,000 after acquiring an additional 184,227 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Conagra Brands by 59.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 41,225 shares of the company’s stock worth $1,400,000 after acquiring an additional 15,360 shares in the last quarter. 70.85% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research reissued a “hold” rating on shares of Conagra Brands in a research report on Monday, November 12th. Credit Suisse Group assumed coverage on Conagra Brands in a research report on Wednesday, October 31st. They set a “neutral” rating and a $40.00 target price on the stock. ValuEngine lowered Conagra Brands from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Barclays reissued a “buy” rating and set a $30.00 target price on shares of Conagra Brands in a research report on Sunday, December 23rd. Finally, Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of Conagra Brands in a research report on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.40.
CAG opened at $22.19 on Friday. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.54 and a beta of 0.64. Conagra Brands Inc has a 52 week low of $20.22 and a 52 week high of $39.43. The company has a current ratio of 1.47, a quick ratio of 0.69 and a debt-to-equity ratio of 1.58.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 20th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.41 billion. Conagra Brands had a return on equity of 19.45% and a net margin of 9.07%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Equities analysts predict that Conagra Brands Inc will post 2.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, January 30th will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, January 29th. Conagra Brands’s dividend payout ratio (DPR) is 40.28%.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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