Cadence Bank Acquires Shares of 267,156 Conagra Brands, Inc. (NYSE:CAG)

Cadence Bank purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 267,156 shares of the company's stock, valued at approximately $7,414,000. Cadence Bank owned about 0.06% of Conagra Brands at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Conagra Brands in the 4th quarter worth approximately $168,877,000. Massachusetts Financial Services Co. MA acquired a new position in Conagra Brands during the 4th quarter worth approximately $110,704,000. Invesco Ltd. increased its holdings in shares of Conagra Brands by 18.5% during the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock valued at $309,728,000 after acquiring an additional 1,745,319 shares in the last quarter. Vanguard Group Inc. grew its position in Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its stake in shares of Conagra Brands by 114.5% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company's stock valued at $53,478,000 after buying an additional 1,028,631 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CAG. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Barclays boosted their target price on shares of Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Finally, Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $27.90.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded down $0.27 during trading on Wednesday, reaching $25.21. 1,433,215 shares of the stock traded hands, compared to its average volume of 5,114,149. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The business has a fifty day simple moving average of $25.79 and a two-hundred day simple moving average of $26.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Sell-side analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.55%. Conagra Brands's dividend payout ratio is presently 205.88%.

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.