Trust Co. of Oklahoma Lowers Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Trust Co. of Oklahoma cut its holdings in Conagra Brands, Inc. (NYSE:CAG) by 8.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,525 shares of the company’s stock after selling 1,091 shares during the quarter. Trust Co. of Oklahoma’s holdings in Conagra Brands were worth $328,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First United Bank & Trust bought a new position in shares of Conagra Brands during the fourth quarter valued at approximately $26,000. Advantage Trust Co bought a new stake in shares of Conagra Brands in the fourth quarter worth approximately $34,000. Parkside Financial Bank & Trust raised its stake in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after buying an additional 454 shares during the last quarter. Whittier Trust Co. lifted its holdings in Conagra Brands by 144.4% in the first 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 period. Finally, LRI Investments LLC purchased a new position in shares of Conagra Brands in the first quarter worth approximately $44,000. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CAG. Evercore ISI lowered their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada dropped their price objective on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Finally, Barclays dropped their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.90.

Insider Buying and Selling

In other news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 in the company, valued at $4,890,108.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Conagra Brands Trading Down 0.8 %

Shares of CAG traded down $0.26 during midday trading on Thursday, hitting $30.48. 8,339,411 shares of the stock were exchanged, compared to its average volume of 4,668,584. 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, Inc. has a 52-week low of $25.16 and a 52-week high of $31.82. The firm has a market cap of $14.57 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.65 and a beta of 0.32. The stock has a fifty day simple moving average of $29.39 and a 200 day simple moving average of $29.42.

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 analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s payout ratio is currently 191.78%.

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.