Summit Trail Advisors LLC Purchases 2,393 Shares of Conagra Brands, Inc. (NYSE:CAG)

Summit Trail Advisors LLC boosted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 28.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,913 shares of the company’s stock after acquiring an additional 2,393 shares during the quarter. Summit Trail Advisors LLC’s holdings in Conagra Brands were worth $310,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CAG. Innealta Capital LLC bought a new stake in Conagra Brands during the second quarter valued at about $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands during the 2nd quarter valued at $25,000. Whittier Trust Co. raised its position in Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares during the period. LRI Investments LLC bought a new stake in shares of Conagra Brands during the 1st quarter worth approximately $42,000. Finally, Security National Bank bought a new stake in shares of Conagra Brands during the fourth quarter worth $48,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Up 0.0 %

CAG stock opened at $32.31 on Tuesday. The stock has a market capitalization of $15.45 billion, a PE ratio of 44.26, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $33.24. The company has a fifty day moving average of $30.94 and a 200-day moving average of $30.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 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 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. As a group, analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

CAG has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective 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. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Citigroup decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Finally, Bank of America raised their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $31.10.

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.