First Bank & Trust Raises Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

First Bank & Trust raised its stake in Conagra Brands, Inc. (NYSE:CAG) by 101.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,863 shares of the company’s stock after buying an additional 27,643 shares during the quarter. First Bank & Trust’s holdings in Conagra Brands were worth $1,626,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CAG. First United Bank & Trust acquired a new stake in Conagra Brands in the 4th quarter valued at approximately $26,000. Naples Money Management LLC purchased a new stake in shares of Conagra Brands in the 4th quarter valued at $26,000. Advantage Trust Co acquired a new position in Conagra Brands during the 4th quarter worth about $34,000. Parkside Financial Bank & Trust boosted its holdings in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after acquiring an additional 454 shares during the period. Finally, Bogart Wealth LLC grew its position in Conagra Brands by 143.3% in the 4th quarter. Bogart Wealth LLC now owns 1,550 shares of the company’s stock valued at $44,000 after acquiring an additional 913 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CAG shares. Citigroup reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Barclays lifted their price objective on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company lifted their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus boosted their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

Insider Activity

In related news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Conagra Brands Stock Up 0.3 %

Shares of NYSE:CAG traded up $0.08 on Friday, reaching $28.42. The company had a trading volume of 7,264,862 shares, compared to its average volume of 4,120,062. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $13.59 billion, a P/E ratio of 14.28, a P/E/G ratio of 2.75 and a beta of 0.32. The stock has a 50-day moving average price of $29.98 and a 200 day moving average price of $29.27. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $34.38.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.93%. Conagra Brands’s payout ratio is 70.35%.

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.