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

Whittier Trust Co. of Nevada Inc. reduced its stake in Conagra Brands, Inc. (NYSE:CAG) by 45.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,790 shares of the company’s stock after selling 1,506 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Conagra Brands were worth $58,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAG. Marshall Wace LLP raised its position in shares of 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 during the last quarter. Federated Hermes Inc. raised its position in shares of 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 during the last quarter. Squarepoint Ops LLC increased 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 worth $72,048,000 after buying an additional 1,513,726 shares during the period. Miller Howard Investments Inc. NY increased its holdings in Conagra Brands by 523.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after buying an additional 1,214,859 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 worth $122,602,000 after buying an additional 633,794 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CAG has been the topic of several research reports. Barclays cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. 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 report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Evercore ISI dropped their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $31.63.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $29.35 on Friday. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 28.50, a PEG 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 firm’s 50 day simple moving average is $31.08 and its 200-day simple moving average is $30.27. 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 issued 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). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business earned $0.66 EPS. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 4.77%. Conagra Brands’s dividend payout ratio is currently 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.