Community Bank N.A. Has $1.33 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Community Bank N.A. lifted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,480 shares of the company’s stock after purchasing an additional 2,410 shares during the quarter. Community Bank N.A.’s holdings in Conagra Brands were worth $1,332,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CAG. Invesco Ltd. grew its holdings in Conagra Brands by 37.1% in the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares during the period. American Century Companies Inc. grew its holdings in Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after purchasing an additional 1,737,380 shares during the period. Barclays PLC grew its holdings in Conagra Brands by 75.7% in the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after purchasing an additional 1,614,986 shares during the period. Federated Hermes Inc. grew its holdings in Conagra Brands by 18.7% in the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after purchasing an additional 1,330,249 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Conagra Brands by 401.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock worth $41,663,000 after purchasing an additional 1,216,389 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

CAG stock traded down $0.28 during mid-day trading on Thursday, hitting $31.29. The company had a trading volume of 2,303,126 shares, compared to its average volume of 5,084,142. The firm has a market cap of $14.96 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 3.14 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $38.73. The stock’s fifty day moving average price is $29.07 and its two-hundred day moving average price is $28.63.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. On average, analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 70.35%.

Analysts Set New Price Targets

CAG has been the subject of a number of research reports. Citigroup raised their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Royal Bank of Canada reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, January 3rd. Stifel Nicolaus lifted their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Finally, Barclays lifted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.14.

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.