Raymond James Trust N.A. Trims Holdings in Conagra Brands, Inc. (NYSE:CAG)

Raymond James Trust N.A. trimmed its position in Conagra Brands, Inc. (NYSE:CAG) by 37.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,676 shares of the company’s stock after selling 18,718 shares during the quarter. Raymond James Trust N.A.’s holdings in Conagra Brands were worth $1,030,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CAG. Pacer Advisors Inc. raised its stake in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after purchasing an additional 1,513,726 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Conagra Brands by 2,552.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after purchasing an additional 1,241,121 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.9 %

Shares of CAG opened at $27.42 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24. The stock’s 50 day moving average is $29.67 and its two-hundred day moving average is $29.90. The firm 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.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Bank of America reduced their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.