Conagra Brands, Inc. (NYSE:CAG) Shares Sold by City Holding Co.

City Holding Co. lessened its position in Conagra Brands, Inc. (NYSE:CAG) by 23.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,745 shares of the company’s stock after selling 545 shares during the period. City Holding Co.’s holdings in Conagra Brands were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First United Bank & Trust acquired a new stake in Conagra Brands in the fourth quarter valued at about $26,000. Naples Money Management LLC purchased a new position in shares of Conagra Brands during the 4th quarter worth approximately $26,000. Advantage Trust Co acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $34,000. Parkside Financial Bank & Trust boosted its stake in shares of Conagra Brands by 48.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after buying an additional 454 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

NYSE:CAG traded down $0.15 during trading hours on Friday, reaching $30.15. 2,135,989 shares of the company traded hands, compared to its average volume of 4,620,892. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The firm’s 50-day moving average is $29.23 and its 200-day moving average is $29.36. The stock has a market cap of $14.41 billion, a P/E ratio of 41.30, a P/E/G ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $31.82.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s dividend payout ratio is presently 191.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Stifel Nicolaus decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada reduced their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Evercore ISI decreased their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Conagra Brands has an average rating of “Hold” and an average target price of $31.18.

Insider Activity at Conagra Brands

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

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.