Community Bank N.A. Purchases 14,439 Shares of Conagra Brands (NYSE:CAG)

Community Bank N.A. increased its position in shares of Conagra Brands (NYSE:CAG) by 28.7% in the first quarter, Holdings Channel.com reports. The firm owned 64,671 shares of the company’s stock after purchasing an additional 14,439 shares during the quarter. Community Bank N.A.’s holdings in Conagra Brands were worth $1,724,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CAG. State of Alaska Department of Revenue boosted its position in shares of Conagra Brands by 1.9% during the first quarter. State of Alaska Department of Revenue now owns 79,914 shares of the company’s stock valued at $2,131,000 after buying an additional 1,500 shares during the period. LifeWealth Investments LLC lifted its stake in shares of Conagra Brands by 19.6% during the 1st quarter. LifeWealth Investments LLC now owns 10,847 shares of the company’s stock worth $289,000 after acquiring an additional 1,777 shares during the last quarter. Bell Bank boosted its holdings in Conagra Brands by 9.9% during the 1st quarter. Bell Bank now owns 310,831 shares of the company’s stock valued at $8,290,000 after acquiring an additional 28,006 shares during the period. Sowell Financial Services LLC bought a new position in Conagra Brands in the 1st quarter valued at $633,000. Finally, Exchange Traded Concepts LLC grew its position in Conagra Brands by 18.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 41,902 shares of the company’s stock valued at $1,118,000 after acquiring an additional 6,383 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

NYSE CAG opened at $21.56 on Wednesday. The company has a market cap of $10.29 billion, a PE ratio of 31.71, a P/E/G ratio of 1.58 and a beta of 0.14. The firm’s 50 day moving average price is $23.50 and its 200-day moving average price is $25.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. Conagra Brands has a 52-week low of $21.18 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. Sell-side analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands’s dividend payout ratio (DPR) is currently 205.88%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group started coverage on Conagra Brands in a research report on Monday. They set a “neutral” rating and a $22.00 target price for the company. Bank of America cut shares of Conagra Brands from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, June 2nd. The Goldman Sachs Group downgraded shares of Conagra Brands from a “neutral” rating to a “sell” rating and decreased their price target for the company from $26.00 to $21.00 in a research note on Monday, June 9th. Finally, Morgan Stanley initiated coverage on Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.36.

Conagra Brands Company 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.