Pitcairn Co. Has $369,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Pitcairn Co. reduced its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,300 shares of the company’s stock after selling 1,319 shares during the period. Pitcairn Co.’s holdings in Conagra Brands were worth $369,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands during the fourth quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $29,000. Grove Bank & Trust increased its stake in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands during the fourth quarter worth $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands during the fourth quarter worth $44,000. 83.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAG. Bank of America dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Stifel Nicolaus cut their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.20.

Conagra Brands Stock Down 0.3 %

CAG opened at $26.71 on Friday. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm has a market capitalization of $12.75 billion, a P/E ratio of 26.19, a PEG ratio of 1.76 and a beta of 0.18. The company’s 50-day moving average is $25.74 and its 200 day moving average is $27.44. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. Research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date is Monday, April 28th. Conagra Brands’s payout ratio is 137.25%.

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.