Community Bank N.A. Acquires 14,439 Shares of Conagra Brands (NYSE:CAG)

Community Bank N.A. lifted its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 28.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 64,671 shares of the company's stock after buying an additional 14,439 shares during the quarter. Community Bank N.A.'s holdings in Conagra Brands were worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CAG. Capital Advisors Ltd. LLC raised its stake in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares in the last quarter. Riverview Trust Co acquired a new stake in Conagra Brands in the 4th quarter worth about $29,000. AdvisorNet Financial Inc raised its stake in Conagra Brands by 86.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after purchasing an additional 690 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands in the 4th quarter worth about $41,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Conagra Brands in the 4th quarter worth about $53,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on CAG. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a research note on Monday, June 2nd. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. Barclays decreased their target price on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Finally, UBS Group started coverage on shares of Conagra Brands in a report on Monday, June 16th. They issued a "neutral" rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of "Hold" and an average target price of $25.36.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded down $0.01 during midday trading on Friday, hitting $21.50. 14,392,729 shares of the company traded hands, compared to its average volume of 5,612,139. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.58 and a beta of 0.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. The firm's fifty day moving average price is $23.25 and its 200-day moving average price is $25.18. Conagra Brands has a 12 month low of $21.18 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. As a group, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

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.