Chevy Chase Trust Holdings Inc. Has $12.25 Million Position in Conagra Brands Inc. (CAG)
Chevy Chase Trust Holdings Inc. boosted its holdings in Conagra Brands Inc. (NYSE:CAG) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,977 shares of the company’s stock after acquiring an additional 13,906 shares during the quarter. Chevy Chase Trust Holdings Inc. owned 0.09% of Conagra Brands worth $12,247,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC lifted its position in Conagra Brands by 32,666.7% in the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after acquiring an additional 2,940 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in Conagra Brands by 143.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock valued at $112,000 after acquiring an additional 1,851 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Conagra Brands by 57.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after acquiring an additional 1,705 shares in the last quarter. Krilogy Financial LLC lifted its position in Conagra Brands by 7.7% in the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after acquiring an additional 370 shares in the last quarter. Finally, Evercore Wealth Management LLC raised its stake in Conagra Brands by 12.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock valued at $226,000 after buying an additional 725 shares during the last quarter. 79.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Conagra Brands Inc. (NYSE CAG) opened at $37.34 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $15,339.10, a price-to-earnings ratio of 20.86, a PEG ratio of 2.83 and a beta of 0.37. Conagra Brands Inc. has a 12 month low of $32.16 and a 12 month high of $41.68.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. Conagra Brands’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. research analysts anticipate that Conagra Brands Inc. will post 1.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be paid a $0.213 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.28%. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s dividend payout ratio is 60.28%.
A number of equities research analysts have weighed in on the stock. UBS upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and boosted their target price for the company from $33.00 to $37.00 in a research note on Tuesday. Royal Bank of Canada reiterated a “buy” rating and set a $45.00 target price on shares of Conagra Brands in a research note on Friday, September 29th. Morgan Stanley decreased their target price on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, September 25th. Jefferies Group reiterated a “buy” rating and set a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Conagra Brands currently has a consensus rating of “Buy” and an average target price of $40.37.
In other news, EVP Colleen Batcheler sold 133,869 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total value of $4,589,029.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.
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Conagra Brands Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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