Truist Financial Corp grew its holdings in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 680,466 shares of the company’s stock after purchasing an additional 21,945 shares during the period. Truist Financial Corp owned approximately 0.14% of Conagra Brands worth $25,558,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Delta Asset Management LLC TN bought a new stake in Conagra Brands during the 4th quarter worth approximately $27,000. Core Alternative Capital bought a new stake in Conagra Brands during the 1st quarter worth approximately $31,000. ST Germain D J Co. Inc. bought a new stake in Conagra Brands during the 4th quarter worth approximately $33,000. Coppell Advisory Solutions Corp. bought a new stake in Conagra Brands during the 4th quarter worth approximately $39,000. Finally, BerganKDV Wealth Management LLC increased its holdings in Conagra Brands by 74.9% during the 4th quarter. BerganKDV Wealth Management LLC now owns 1,025 shares of the company’s stock worth $40,000 after acquiring an additional 439 shares during the period. Institutional investors own 88.80% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on CAG. Bank of America decreased their target price on shares of Conagra Brands from $40.00 to $38.00 in a report on Friday, July 14th. UBS Group decreased their target price on shares of Conagra Brands from $44.00 to $40.00 in a report on Monday, July 10th. Jefferies Financial Group decreased their target price on shares of Conagra Brands from $38.00 to $35.00 in a report on Friday, July 14th. JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $43.00 to $39.00 in a research note on Thursday, July 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Conagra Brands from $36.00 to $35.00 in a research note on Friday, July 14th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.25.
Conagra Brands Price Performance
Shares of Conagra Brands stock opened at $32.10 on Tuesday. Conagra Brands, Inc. has a 52-week low of $32.05 and a 52-week high of $41.30. The stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 3.24 and a beta of 0.54. The company has a fifty day moving average of $33.65 and a 200-day moving average of $35.64. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 0.76.
Conagra Brands (NYSE:CAG – Get Free Report) last announced its quarterly earnings data on Thursday, July 13th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Conagra Brands had a net margin of 5.57% and a return on equity of 15.19%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Conagra Brands, Inc. will post 2.73 EPS for the current year.
Conagra Brands Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be given a dividend of $0.35 per share. The ex-dividend date is Friday, July 28th. This represents a $1.40 annualized dividend and a yield of 4.36%. This is a boost from Conagra Brands’s previous quarterly dividend of $0.33. Conagra Brands’s dividend payout ratio is presently 98.59%.
Insider Buying and Selling at Conagra Brands
In other Conagra Brands news, COO Thomas M. Mcgough sold 75,522 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $33.07, for a total transaction of $2,497,512.54. Following the completion of the sale, the chief operating officer now owns 157,125 shares of the company’s stock, valued at approximately $5,196,123.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by corporate insiders.
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.
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