Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 27.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 467,247 shares of the company's stock after selling 176,074 shares during the quarter. Truist Financial Corp owned approximately 0.10% of Conagra Brands worth $13,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Marshall Wace LLP raised its stake in Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company's stock valued at $68,400,000 after purchasing an additional 2,242,186 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company's stock worth $313,004,000 after buying an additional 1,871,238 shares in the last quarter. AMF Tjanstepension AB bought a new position in shares of Conagra Brands during the first quarter worth $47,980,000. Squarepoint Ops LLC grew its stake in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company's stock valued at $72,048,000 after acquiring an additional 1,513,726 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in Conagra Brands in the 4th quarter worth $36,069,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company's stock, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CAG. The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They set a "buy" rating and a $36.00 price objective for the company. Citigroup reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, June 28th. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a report on Thursday. Wells Fargo & Company cut their target price on shares of Conagra Brands from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, July 10th. Finally, Stifel Nicolaus decreased their price target on shares of Conagra Brands from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, July 12th. Nine research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $31.00.

Conagra Brands Trading Up 0.5 %

CAG stock traded up $0.16 during mid-day trading on Friday, reaching $29.51. The company had a trading volume of 5,341,172 shares, compared to its average volume of 4,800,442. The firm has a 50 day moving average of $31.28 and a 200 day moving average of $30.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.24. The company has a market capitalization of $14.11 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results 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). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.74%. Conagra Brands's dividend payout ratio (DPR) is presently 191.78%.

About Conagra Brands

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.