Raymond James Trust N.A. Cuts Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Raymond James Trust N.A. decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 37.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,676 shares of the company’s stock after selling 18,718 shares during the period. Raymond James Trust N.A.’s holdings in Conagra Brands were worth $1,030,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Conagra Brands during the 2nd quarter worth about $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands during the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC increased its holdings in Conagra Brands by 82.8% during the 3rd 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. LRI Investments LLC purchased a new stake in Conagra Brands during the 1st quarter worth about $42,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

Conagra Brands Trading Up 0.9 %

NYSE:CAG opened at $27.42 on Monday. The stock’s 50 day moving average price is $29.67 and its 200 day moving average price is $29.90. The company has a market capitalization of $13.09 billion, a PE ratio of 26.62, a P/E/G ratio of 2.80 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, research analysts anticipate 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. Shareholders 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 annualized dividend and a dividend yield of 5.11%. Conagra Brands’s dividend payout ratio (DPR) 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.