Conagra Brands, Inc. (NYSE:CAG) Holdings Decreased by City State Bank

City State Bank reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,755 shares of the company’s stock after selling 605 shares during the quarter. City State Bank’s holdings in Conagra Brands were worth $132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in Conagra Brands in the second quarter worth about $511,000. Choreo LLC bought a new stake in Conagra Brands in the second quarter worth about $418,000. LPL Financial LLC raised its position in Conagra Brands by 20.1% in the second quarter. LPL Financial LLC now owns 1,365,652 shares of the company’s stock worth $38,812,000 after acquiring an additional 228,202 shares in the last quarter. Meeder Advisory Services Inc. raised its position in Conagra Brands by 25.5% in the second quarter. Meeder Advisory Services Inc. now owns 10,808 shares of the company’s stock worth $307,000 after acquiring an additional 2,197 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Conagra Brands by 13.6% in the second quarter. Parallel Advisors LLC now owns 12,852 shares of the company’s stock worth $365,000 after acquiring an additional 1,535 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company cut their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average price target of $30.56.

Conagra Brands Trading Up 1.4 %

NYSE:CAG opened at $26.31 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.24. The stock’s 50-day moving average is $27.48 and its two-hundred day moving average is $29.32. The stock has a market cap of $12.56 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business posted $0.71 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.32%. Conagra Brands’s payout ratio is 137.25%.

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.