Truist Financial Corp Sells 106,665 Shares of Conagra Brands, Inc. (NYSE:CAG)

Truist Financial Corp decreased its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 568,297 shares of the company's stock after selling 106,665 shares during the quarter. Truist Financial Corp owned approximately 0.12% of Conagra Brands worth $16,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Naples Money Management LLC acquired a new position in shares of Conagra Brands in the 4th quarter valued at $26,000. Thompson Investment Management Inc. lifted its position in Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company's stock valued at $27,000 after buying an additional 500 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new position in Conagra Brands during the third quarter worth about $33,000. Parkside Financial Bank & Trust increased its position in shares of Conagra Brands by 48.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company's stock valued at $40,000 after acquiring an additional 454 shares during the last quarter. Finally, Peoples Bank KS purchased a new stake in shares of Conagra Brands in the 3rd quarter valued at approximately $47,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Down 0.2 %

Shares of Conagra Brands stock traded down $0.05 during trading on Wednesday, hitting $30.73. 5,616,360 shares of the stock were exchanged, compared to its average volume of 5,089,397. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 3.11 and a beta of 0.42. The firm's 50-day moving average price is $29.35 and its 200 day moving average price is $28.74. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $38.73.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the prior year, the firm posted $0.76 EPS. The business's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.56%. Conagra Brands's dividend payout ratio is presently 70.35%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CAG shares. Barclays increased their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, April 5th. Citigroup increased their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. Royal Bank of Canada cut their price target on shares of Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 3rd. Finally, Stifel Nicolaus raised their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the company a "hold" rating in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Conagra Brands currently has an average rating of "Hold" and a consensus target price of $33.14.

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.