First Bank & Trust Sells 42,017 Shares of Conagra Brands, Inc. (NYSE:CAG)

First Bank & Trust lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 74.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,354 shares of the company’s stock after selling 42,017 shares during the quarter. First Bank & Trust’s holdings in Conagra Brands were worth $398,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State Street Corp raised its holdings in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after purchasing an additional 196,100 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after buying an additional 122,590 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CAG shares. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Bank of America cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Barclays cut their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Citigroup cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.78.

Conagra Brands Stock Up 2.3 %

NYSE:CAG opened at $24.84 on Friday. The company has a market cap of $11.86 billion, a PE ratio of 24.36, a P/E/G ratio of 1.63 and a beta of 0.28. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $26.20 and its two-hundred day moving average is $28.57.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. Analysts anticipate that Conagra Brands, Inc. will post 2.45 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is currently 137.26%.

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.