US Bancorp DE Sells 25,807 Shares of Conagra Brands, Inc. (NYSE:CAG)

US Bancorp DE reduced its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,798 shares of the company's stock after selling 25,807 shares during the period. US Bancorp DE's holdings in Conagra Brands were worth $6,888,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CAG. Innealta Capital LLC acquired a new position in Conagra Brands in the 2nd quarter worth about $25,000. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands during the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC increased its holdings in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock valued at $30,000 after acquiring an additional 420 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company's stock valued at $42,000 after acquiring an additional 836 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Conagra Brands during the 1st quarter valued at about $42,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded down $0.20 during trading on Monday, hitting $28.77. 3,061,531 shares of the stock were exchanged, compared to its average volume of 4,704,700. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.98 and a beta of 0.34. The company's fifty day simple moving average is $30.92 and its 200-day simple moving average is $30.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business posted $0.66 EPS. Conagra Brands's revenue for the quarter was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands's dividend payout ratio is 135.92%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI lowered their price objective on Conagra Brands from $32.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group started coverage on Conagra Brands in a research report on Monday, August 12th. They issued a "buy" rating and a $36.00 price target on the stock. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Finally, Bank of America dropped their price target on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $31.63.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by insiders.

Conagra Brands Company 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.