Massmutual Trust Co. FSB ADV Has $127,000 Holdings in Conagra Brands, Inc. (NYSE:CAG)

Massmutual Trust Co. FSB ADV grew its holdings in Conagra Brands, Inc. (NYSE:CAG) by 79.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,479 shares of the company’s stock after purchasing an additional 1,977 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Conagra Brands were worth $127,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CAG. GAMMA Investing LLC boosted its stake in Conagra Brands by 74.7% during the 2nd quarter. GAMMA Investing LLC now owns 23,621 shares of the company’s stock worth $671,000 after acquiring an additional 10,102 shares during the last quarter. Red Spruce Capital LLC boosted its stake in Conagra Brands by 9.0% during the 2nd quarter. Red Spruce Capital LLC now owns 47,913 shares of the company’s stock worth $1,362,000 after acquiring an additional 3,960 shares during the last quarter. Old Port Advisors boosted its stake in Conagra Brands by 7.1% during the 1st quarter. Old Port Advisors now owns 87,680 shares of the company’s stock worth $2,599,000 after acquiring an additional 5,778 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Conagra Brands by 11,463.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,122 shares of the company’s stock worth $93,000 after acquiring an additional 3,095 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in Conagra Brands by 210.9% during the 1st quarter. Cetera Advisors LLC now owns 77,318 shares of the company’s stock worth $2,292,000 after acquiring an additional 52,448 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Stifel Nicolaus cut their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Barclays cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Citigroup cut 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 note on Friday, June 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.18.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Stock Down 0.3 %

CAG traded down $0.08 during trading on Tuesday, reaching $29.93. 3,000,744 shares of the stock were exchanged, compared to its average volume of 4,653,277. The stock has a market cap of $14.31 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $32.51. The stock’s 50 day moving average price is $29.19 and its two-hundred day moving average price is $29.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be issued a $0.35 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.68%. Conagra Brands’s dividend payout ratio is currently 191.78%.

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.