Inspire Trust Co. N.A. Raises Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Inspire Trust Co. N.A. raised its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,000 shares of the company's stock after buying an additional 27,413 shares during the period. Inspire Trust Co. N.A.'s holdings in Conagra Brands were worth $3,136,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Conagra Brands by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after acquiring an additional 1,132,839 shares during the last quarter. Geode Capital Management LLC raised its position in Conagra Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock valued at $325,096,000 after purchasing an additional 231,477 shares during the last quarter. Invesco Ltd. raised its position in Conagra Brands by 18.5% during the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock valued at $309,728,000 after purchasing an additional 1,745,319 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after buying an additional 2,058,000 shares during the period. Finally, Norges Bank bought a new stake in shares of Conagra Brands in the 4th quarter worth approximately $168,877,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Down 2.7%

NYSE:CAG opened at $22.48 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm's 50-day moving average price is $24.89 and its 200-day moving average price is $26.02. The company has a market capitalization of $10.73 billion, a PE ratio of 22.03, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $22.38 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company's revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is 205.88%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CAG shares. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Morgan Stanley assumed coverage on shares of Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Finally, Barclays decreased 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 note on Monday, May 12th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $27.50.

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.

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