Pennsylvania Trust Co Acquires 10,900 Shares of Conagra Brands Inc (CAG)

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Pennsylvania Trust Co increased its holdings in Conagra Brands Inc (NYSE:CAG) by 27.8% during the third quarter, HoldingsChannel.com reports. The fund owned 50,108 shares of the company’s stock after buying an additional 10,900 shares during the period. Pennsylvania Trust Co’s holdings in Conagra Brands were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Conagra Brands by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,458,678 shares of the company’s stock valued at $53,796,000 after buying an additional 22,062 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Conagra Brands by 15.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 697,581 shares of the company’s stock valued at $25,727,000 after buying an additional 93,979 shares during the period. TLP Group LLC acquired a new position in Conagra Brands in the 1st quarter valued at $228,000. Scopus Asset Management L.P. acquired a new position in Conagra Brands in the 1st quarter valued at $9,220,000. Finally, Highbridge Capital Management LLC increased its stake in Conagra Brands by 584.3% in the 1st quarter. Highbridge Capital Management LLC now owns 54,224 shares of the company’s stock valued at $2,000,000 after buying an additional 46,300 shares during the period. 81.48% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CAG opened at $35.27 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.39 and a current ratio of 0.84. Conagra Brands Inc has a fifty-two week low of $32.81 and a fifty-two week high of $39.43. The firm has a market cap of $13.30 billion, a PE ratio of 16.72, a P/E/G ratio of 1.92 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.02). Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Conagra Brands Inc will post 2.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, October 17th will be paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.41%. Conagra Brands’s dividend payout ratio (DPR) is presently 40.28%.

In other news, EVP Colleen Batcheler sold 22,750 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $36.00, for a total transaction of $819,000.00. Following the transaction, the executive vice president now directly owns 163,145 shares of the company’s stock, valued at approximately $5,873,220. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Conagra Brands from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Stephens assumed coverage on shares of Conagra Brands in a research note on Monday, August 20th. They issued an “overweight” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Conagra Brands from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Citigroup dropped their price objective on shares of Conagra Brands from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, June 28th. Finally, ValuEngine raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Conagra Brands presently has an average rating of “Buy” and an average price target of $42.78.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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