Pennsylvania Trust Co Acquires 10,900 Shares of Conagra Brands Inc (CAG)
Pennsylvania Trust Co grew its holdings in Conagra Brands Inc (NYSE:CAG) by 27.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,108 shares of the company’s stock after purchasing an additional 10,900 shares during the quarter. Pennsylvania Trust Co’s holdings in Conagra Brands were worth $1,702,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CAG. HPM Partners LLC lifted its stake in Conagra Brands by 7.8% in the second quarter. HPM Partners LLC now owns 18,986 shares of the company’s stock worth $678,000 after acquiring an additional 1,373 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Conagra Brands by 6.0% in the second quarter. Baird Financial Group Inc. now owns 24,824 shares of the company’s stock worth $887,000 after acquiring an additional 1,415 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in Conagra Brands by 0.9% in the second quarter. Tocqueville Asset Management L.P. now owns 178,140 shares of the company’s stock worth $6,365,000 after acquiring an additional 1,502 shares during the last quarter. Captrust Financial Advisors lifted its stake in Conagra Brands by 5.8% in the second quarter. Captrust Financial Advisors now owns 29,516 shares of the company’s stock worth $1,055,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its stake in Conagra Brands by 2.1% in the second quarter. Ontario Teachers Pension Plan Board now owns 80,125 shares of the company’s stock worth $2,863,000 after acquiring an additional 1,649 shares during the last quarter. 81.48% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday. UBS Group upgraded shares of Conagra Brands from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $40.00 in a research note on Monday. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Friday, June 29th. 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 target for the company. Finally, Jefferies Financial Group set a $44.00 price target on shares of Conagra Brands and gave the stock a “buy” rating in a research note on Thursday, September 27th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Conagra Brands presently has an average rating of “Buy” and an average target price of $42.78.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, equities research analysts forecast that Conagra Brands Inc will post 2.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, October 17th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 annualized dividend and a dividend yield of 2.41%. Conagra Brands’s dividend payout ratio is presently 40.28%.
In other news, EVP Colleen Batcheler sold 22,750 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 163,145 shares in the company, valued at approximately $5,873,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is currently owned by insiders.
Conagra Brands Profile
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.
Featured Story: What are the Benefits of Index Funds?
Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.