Conagra Brands $CAG Shares Acquired by Cadence Bank

Cadence Bank increased its position in shares of Conagra Brands (NYSE:CAG) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 273,191 shares of the company’s stock after purchasing an additional 6,035 shares during the period. Cadence Bank’s holdings in Conagra Brands were worth $7,286,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CAG. Phoenix Wealth Advisors purchased a new position in Conagra Brands in the first quarter valued at about $212,000. Ameriprise Financial Inc. increased its holdings in Conagra Brands by 233.7% in the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock valued at $159,625,000 after buying an additional 4,191,555 shares in the last quarter. Norinchukin Bank The increased its holdings in Conagra Brands by 14.4% in the first quarter. Norinchukin Bank The now owns 23,585 shares of the company’s stock valued at $629,000 after buying an additional 2,967 shares in the last quarter. CW Advisors LLC increased its holdings in Conagra Brands by 101.6% in the first quarter. CW Advisors LLC now owns 35,995 shares of the company’s stock valued at $960,000 after buying an additional 18,136 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Conagra Brands in the first quarter valued at about $245,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday, July 11th. Evercore ISI dropped their price objective on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a research note on Friday, July 11th. Royal Bank Of Canada dropped their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. began coverage on shares of Conagra Brands in a research note on Wednesday. They set a “neutral” rating and a $20.00 price objective for the company. Finally, UBS Group dropped their price objective on shares of Conagra Brands from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.17.

Conagra Brands Stock Up 1.9%

Shares of CAG opened at $19.6730 on Friday. The firm has a market cap of $9.42 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 1.85 and a beta of 0.08. The company’s fifty day moving average is $19.82 and its two-hundred day moving average is $22.97. Conagra Brands has a fifty-two week low of $18.18 and a fifty-two week high of $33.24. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business had revenue of $2,781,800 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business posted $0.61 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands’s payout ratio is presently 58.58%.

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.