PNC Financial Services Group Inc. lessened its holdings in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,055 shares of the company’s stock after selling 7,360 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Conagra Brands were worth $5,869,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of CAG. Kestra Private Wealth Services LLC increased its stake in shares of Conagra Brands by 4.4% during the 2nd quarter. Kestra Private Wealth Services LLC now owns 27,405 shares of the company’s stock worth $924,000 after purchasing an additional 1,145 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Conagra Brands during the 3rd quarter valued at $2,961,000. Franklin Resources Inc. increased its stake in Conagra Brands by 363.5% during the 2nd quarter. Franklin Resources Inc. now owns 616,862 shares of the company’s stock worth $20,801,000 after buying an additional 483,760 shares during the period. Bollard Group LLC increased its stake in Conagra Brands by 0.8% during the 2nd quarter. Bollard Group LLC now owns 118,713 shares of the company’s stock worth $4,003,000 after buying an additional 981 shares during the period. Finally, Welch Group LLC bought a new stake in shares of Conagra Brands in the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 84.27% of the company’s stock.
Analyst Ratings Changes
CAG has been the subject of several research reports. Evercore ISI lowered shares of Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price target for the company. in a report on Monday, December 11th. Royal Bank of Canada dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 3rd. Citigroup began coverage on shares of Conagra Brands in a report on Thursday, February 1st. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Conagra Brands in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $31.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.87.
Get Our Latest Analysis on Conagra Brands
Conagra Brands Stock Up 0.1 %
Shares of NYSE CAG opened at $27.21 on Tuesday. The company has a 50 day simple moving average of $28.76 and a 200 day simple moving average of $28.63. The firm has a market cap of $13.01 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.89 and a beta of 0.44. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $38.94. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.91 and a quick ratio of 0.31.
Conagra Brands (NYSE:CAG – Get Free Report) last announced its quarterly earnings data on Thursday, January 4th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. Conagra Brands had a net margin of 8.09% and a return on equity of 14.78%. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the firm posted $0.81 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.
Conagra Brands Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Tuesday, January 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date is Monday, January 29th. Conagra Brands’s payout ratio is presently 67.96%.
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.
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