Community Bank N.A. boosted its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 28.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its stake in shares of Conagra Brands by 82.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after acquiring an additional 452 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Conagra Brands in the 4th quarter worth $29,000. AdvisorNet Financial Inc raised its holdings 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 during the period. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the 4th quarter worth $41,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Conagra Brands during the fourth quarter valued at $53,000. 83.75% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. UBS Group began coverage on shares of Conagra Brands in a research note on Monday. They set a "neutral" rating and a $22.00 target price on the stock. The Goldman Sachs Group downgraded shares of Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price target for the company from $26.00 to $21.00 in a report on Monday, June 9th. Finally, Barclays dropped their price target on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $25.36.
Get Our Latest Research Report on Conagra Brands
Conagra Brands Trading Down 0.2%
CAG stock opened at $21.56 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23. Conagra Brands has a 1-year low of $21.18 and a 1-year high of $33.24. The business has a 50 day simple moving average of $23.50 and a two-hundred day simple moving average of $25.31. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.58 and a beta of 0.14.
Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. Conagra Brands's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. Research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.
Conagra Brands Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date was Monday, April 28th. Conagra Brands's payout ratio is presently 205.88%.
About Conagra Brands
(
Free Report)
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.
Further Reading
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