Bank of Nova Scotia Trims Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Bank of Nova Scotia cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,734 shares of the company’s stock after selling 7,178 shares during the quarter. Bank of Nova Scotia’s holdings in Conagra Brands were worth $2,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. raised its holdings in shares of Conagra Brands by 117.5% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,031 shares of the company’s stock worth $34,000 after purchasing an additional 557 shares during the period. Quent Capital LLC increased its holdings in shares of Conagra Brands by 410.5% in the 4th quarter. Quent Capital LLC now owns 970 shares of the company’s stock valued at $38,000 after acquiring an additional 780 shares during the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $39,000. Arlington Partners LLC increased its holdings in shares of Conagra Brands by 97.7% in the 4th quarter. Arlington Partners LLC now owns 1,012 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the last quarter. Finally, BerganKDV Wealth Management LLC increased its holdings in shares of Conagra Brands by 74.9% in the 4th quarter. BerganKDV Wealth Management LLC now owns 1,025 shares of the company’s stock valued at $40,000 after acquiring an additional 439 shares during the last quarter. 81.08% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.1 %

CAG opened at $35.84 on Monday. Conagra Brands, Inc. has a one year low of $31.01 and a one year high of $41.30. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.32 and a current ratio of 0.97. The stock’s fifty day moving average is $37.16 and its 200-day moving average is $37.23. The company has a market capitalization of $17.09 billion, a PE ratio of 21.46, a P/E/G ratio of 2.04 and a beta of 0.56.

Conagra Brands (NYSE:CAG – Get Rating) last posted its quarterly earnings data on Wednesday, April 5th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. Conagra Brands had a return on equity of 15.34% and a net margin of 6.59%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.76 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, April 28th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, April 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 79.04%.

Insider Transactions at Conagra Brands

In other news, COO Thomas M. Mcgough sold 45,000 shares of the business’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $38.66, for a total transaction of $1,739,700.00. Following the sale, the chief operating officer now directly owns 104,859 shares of the company’s stock, valued at $4,053,848.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Thomas M. Mcgough sold 45,000 shares of the company’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $38.66, for a total transaction of $1,739,700.00. Following the transaction, the chief operating officer now directly owns 104,859 shares of the company’s stock, valued at $4,053,848.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charisse Brock sold 7,036 shares of the company’s stock in a transaction on Friday, April 14th. The shares were sold at an average price of $37.04, for a total value of $260,613.44. Following the transaction, the executive vice president now directly owns 94,802 shares in the company, valued at $3,511,466.08. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CAG shares. StockNews.com lowered Conagra Brands from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus started coverage on Conagra Brands in a research report on Thursday, April 13th. They set a “hold” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Conagra Brands from $35.00 to $38.00 in a research report on Thursday, April 6th. Morgan Stanley reduced their price objective on Conagra Brands from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 6th. Finally, Bank of America boosted their price target on Conagra Brands from $40.00 to $42.00 in a research report on Thursday, April 6th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.00.

Conagra Brands Company Profile

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Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.