Summit Trail Advisors LLC Purchases 1,183 Shares of Conagra Brands, Inc. (NYSE:CAG)

Summit Trail Advisors LLC boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,096 shares of the company’s stock after acquiring an additional 1,183 shares during the period. Summit Trail Advisors LLC’s holdings in Conagra Brands were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Aigen Investment Management LP purchased a new position in shares of Conagra Brands during the 3rd quarter valued at $1,020,000. Pacer Advisors Inc. raised its position in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Conagra Brands during the third quarter valued at $3,829,000. Swedbank AB purchased a new position in Conagra Brands during the first quarter worth about $18,268,000. Finally, Ontario Teachers Pension Plan Board bought a new position in Conagra Brands in the 3rd quarter worth about $967,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $27.48 on Wednesday. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.34. The company has a fifty day moving average of $29.57 and a 200-day moving average of $29.88. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. 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) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.10%. Conagra Brands’s payout ratio is currently 135.92%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Bank of America dropped their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.