Allstate Corp Buys New Shares in Conagra Brands, Inc. (NYSE:CAG)

Allstate Corp purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,479 shares of the company’s stock, valued at approximately $402,000.

A number of other hedge funds also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the 4th quarter worth about $28,000. Riverview Trust Co purchased a new stake in Conagra Brands during the fourth quarter worth approximately $29,000. Grove Bank & Trust increased its position in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Conagra Brands during the 4th quarter valued at $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in Conagra Brands during the 4th quarter worth $44,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CAG. 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 research report on Friday, December 20th. Stifel Nicolaus dropped their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.20.

Conagra Brands Price Performance

Shares of CAG stock opened at $26.32 on Thursday. The firm has a fifty day moving average of $25.69 and a two-hundred day moving average of $27.52. The firm has a market cap of $12.56 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.32%. Conagra Brands’s dividend payout ratio is currently 137.25%.

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.