Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 6.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,442 shares of the company’s stock after purchasing an additional 15,325 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Conagra Brands worth $8,242,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CAG. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands during the second quarter worth $25,000. Innealta Capital LLC purchased a new stake in Conagra Brands during the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC raised its position in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands in the 3rd quarter valued at about $47,000. Finally, Kennebec Savings Bank acquired a new position in shares of Conagra Brands during the third quarter worth about $59,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of CAG stock opened at $28.20 on Friday. The stock’s 50-day moving average is $28.40 and its two-hundred day moving average is $29.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The firm has a market cap of $13.46 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 2.86 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Analysts predict that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.96%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Analyst Upgrades and Downgrades

CAG has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America decreased their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.50.

About Conagra Brands

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.