HM Payson & Co. Has $67,000 Stock Position in Conagra Brands, Inc. (NYSE:CAG)

HM Payson & Co. cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 27.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,066 shares of the company’s stock after selling 797 shares during the period. HM Payson & Co.’s holdings in Conagra Brands were worth $67,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CAG. Chilton Capital Management LLC bought a new position in shares of Conagra Brands in the 2nd quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in Conagra Brands in the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the period. Whittier Trust Co. increased its position in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after buying an additional 836 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in Conagra Brands in the first quarter valued at approximately $44,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $28.97 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.34. Conagra Brands, Inc. has a twelve month low of $26.62 and a twelve month high of $33.24. The company has a 50-day simple moving average of $30.92 and a two-hundred day simple moving average of $30.23.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion for 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%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. Analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.83%. Conagra Brands’s payout ratio is 135.92%.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research analyst reports. The Goldman Sachs Group assumed coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 target price for the company. Evercore ISI reduced their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Stifel Nicolaus lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Six 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.63.

Conagra Brands 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.