Chevy Chase Trust Holdings LLC Sells 4,135 Shares of Conagra Brands, Inc. (NYSE:CAG)

Chevy Chase Trust Holdings LLC trimmed its position in Conagra Brands, Inc. (NYSE:CAG) by 1.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 258,846 shares of the company’s stock after selling 4,135 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Conagra Brands were worth $8,418,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CAG. Pacer Advisors Inc. lifted its stake in Conagra Brands by 21,015.0% in the 3rd 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 in the last quarter. Marshall Wace LLP raised its position 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 buying an additional 2,242,186 shares in the last quarter. Federated Hermes Inc. boosted its stake in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after buying an additional 1,871,238 shares during the period. Squarepoint Ops LLC grew its position in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Conagra Brands by 2,552.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after acquiring an additional 1,241,121 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Up 1.8 %

Shares of CAG stock opened at $27.81 on Friday. The business has a 50-day moving average of $28.89 and a 200 day moving average of $29.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The stock has a market capitalization of $13.27 billion, a PE ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data 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). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

Wall Street Analyst Weigh In

CAG has been the subject of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. 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 price objective for the company. Wells Fargo & Company raised 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. Finally, Bank of America dropped their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.