Home Federal Bank of Tennessee Sells 600 Shares of Conagra Brands, Inc. (NYSE:CAG)

Home Federal Bank of Tennessee lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,300 shares of the company’s stock after selling 600 shares during the period. Home Federal Bank of Tennessee’s holdings in Conagra Brands were worth $515,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in Conagra Brands by 0.6% during the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock valued at $2,166,000 after buying an additional 429 shares during the period. Summit Financial Wealth Advisors LLC raised its position in shares of Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock worth $1,030,000 after purchasing an additional 500 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after purchasing an additional 501 shares during the last quarter. Xponance Inc. raised its position in shares of Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company’s stock worth $1,823,000 after purchasing an additional 505 shares during the last quarter. Finally, International Private Wealth Advisors LLC raised its position in shares of Conagra Brands by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock worth $295,000 after purchasing an additional 527 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAG shares. Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target for the company. Barclays lowered their price target on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Wells Fargo & Company lowered their price target on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, June 2nd. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.60.

Conagra Brands Stock Performance

Conagra Brands stock opened at $22.39 on Tuesday. The business has a 50-day simple moving average of $23.97 and a two-hundred day simple moving average of $25.53. The company has a market cap of $10.69 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.76 and a beta of 0.14. Conagra Brands, Inc. has a 52-week low of $21.98 and a 52-week high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.25%. Conagra Brands’s dividend payout ratio (DPR) is presently 205.88%.

Conagra Brands 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.