Keybank National Association OH Has $1 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Posted by on Aug 20th, 2023

Keybank National Association OH lessened its position in shares of Conagra Brands, Inc. (NYSE:CAG – Free Report) by 2.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 26,620 shares of the company’s stock after selling 745 shares during the quarter. Keybank National Association OH’s holdings in Conagra Brands were worth $1,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAG. Nordea Investment Management AB increased its position in Conagra Brands by 9,591.9% during the 1st quarter. Nordea Investment Management AB now owns 6,881,839 shares of the company’s stock valued at $258,138,000 after purchasing an additional 6,810,833 shares during the period. Norges Bank acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $163,004,000. State Street Corp grew its position in shares of Conagra Brands by 12.8% during the 1st quarter. State Street Corp now owns 23,556,766 shares of the company’s stock worth $790,801,000 after buying an additional 2,671,720 shares during the period. Federated Hermes Inc. grew its position in shares of Conagra Brands by 25.1% during the 1st quarter. Federated Hermes Inc. now owns 9,033,184 shares of the company’s stock worth $339,286,000 after buying an additional 1,810,053 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Conagra Brands by 352.9% during the 4th quarter. Marshall Wace LLP now owns 2,135,469 shares of the company’s stock worth $82,643,000 after buying an additional 1,663,932 shares during the period. Institutional investors and hedge funds own 88.80% of the company’s stock.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 75,522 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $33.07, for a total transaction of $2,497,512.54. Following the transaction, the chief operating officer now directly owns 157,125 shares in the company, valued at approximately $5,196,123.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CAG shares. StockNews.com started coverage on shares of Conagra Brands in a research report on Thursday. They set a “hold” rating for the company. Barclays reduced their price objective on shares of Conagra Brands from $42.00 to $39.00 in a research report on Friday, July 14th. Bank of America reduced their price objective on shares of Conagra Brands from $40.00 to $38.00 in a research report on Friday, July 14th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $43.00 to $36.00 in a research report on Friday, July 14th. Finally, Morgan Stanley downgraded shares of Conagra Brands from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $46.00 to $37.00 in a research report on Monday, July 17th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $38.25.

Check Out Our Latest Analysis on Conagra Brands

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $30.19 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $32.96 and its two-hundred day simple moving average is $35.24. Conagra Brands, Inc. has a 1-year low of $29.85 and a 1-year high of $41.30. The stock has a market cap of $14.40 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 3.03 and a beta of 0.54.

Conagra Brands (NYSE:CAG – Get Free Report) last issued its quarterly earnings data on Thursday, July 13th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Conagra Brands had a return on equity of 15.19% and a net margin of 5.57%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business earned $0.65 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, analysts forecast that Conagra Brands, Inc. will post 2.73 EPS for the current fiscal year.

Conagra Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, July 28th. This is a boost from Conagra Brands’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 4.64%. Conagra Brands’s dividend payout ratio (DPR) is 98.59%.

Conagra Brands Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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