Equitable Trust Co. Trims Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Equitable Trust Co. lessened its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 40.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,596 shares of the company’s stock after selling 14,516 shares during the quarter. Equitable Trust Co.’s holdings in Conagra Brands were worth $619,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Clear Street Markets LLC increased its holdings in Conagra Brands by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock valued at $35,000 after purchasing an additional 451 shares during the last quarter. Riverview Trust Co increased its holdings in Conagra Brands by 132.8% in the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock valued at $26,000 after purchasing an additional 539 shares during the last quarter. Thompson Investment Management Inc. increased its holdings in Conagra Brands by 100.0% in the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Conagra Brands in the 4th quarter valued at approximately $39,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in Conagra Brands in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $31.30 on Tuesday. The company has a 50-day simple moving average of $28.56 and a 200-day simple moving average of $28.36. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The stock has a market capitalization of $14.96 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 3.30 and a beta of 0.41.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that Conagra Brands, Inc. will post 2.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI downgraded shares of Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price target for the company. in a research note on Monday, December 11th. Royal Bank of Canada dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Citigroup boosted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Stifel Nicolaus boosted their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.14.

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.