Blue Trust Inc. Has $254,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Blue Trust Inc. boosted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 266.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,824 shares of the company’s stock after purchasing an additional 5,689 shares during the quarter. Blue Trust Inc.’s holdings in Conagra Brands were worth $254,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CAG. Innealta Capital LLC purchased a new stake in Conagra Brands in the 2nd quarter valued at about $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands in the second quarter worth $25,000. Hexagon Capital Partners LLC increased its position in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after buying an additional 836 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Conagra Brands during the 1st quarter valued at $42,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.3 %

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

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 135.92%.

Insider Buying and Selling at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the 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 transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Six 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.63.

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.