Pathstone Holdings LLC Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Pathstone Holdings LLC decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 20.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 129,705 shares of the company’s stock after selling 32,859 shares during the quarter. Pathstone Holdings LLC’s holdings in Conagra Brands were worth $4,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new position in shares of Conagra Brands in the third quarter worth approximately $1,020,000. Wedge Capital Management L L P NC purchased a new position in shares of Conagra Brands in the third quarter worth approximately $3,829,000. Swedbank AB purchased a new position in shares of Conagra Brands in the first quarter worth approximately $18,268,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Conagra Brands by 23.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,895 shares of the company’s stock worth $2,668,000 after buying an additional 17,835 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of Conagra Brands by 8.8% in the third quarter. National Pension Service now owns 1,160,249 shares of the company’s stock worth $37,731,000 after buying an additional 93,581 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America lowered 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. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Trading Up 0.9 %

Conagra Brands stock opened at $27.42 on Friday. The stock has a market cap of $13.09 billion, a P/E ratio of 26.62, a PEG ratio of 2.80 and a beta of 0.34. 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, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The firm’s 50 day moving average price is $29.67 and its 200-day moving average price is $29.91.

Conagra Brands (NYSE:CAG) last released 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 for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is currently 135.92%.

Conagra Brands Company 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.