Conagra Brands, Inc. (NYSE:CAG) Stock Position Reduced by UMB Bank n.a.

UMB Bank n.a. trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 885,161 shares of the company’s stock after selling 4,702 shares during the period. UMB Bank n.a. owned 0.19% of Conagra Brands worth $24,563,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its position in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Conagra Brands in the fourth quarter worth approximately $28,000. Grove Bank & Trust grew its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in Conagra Brands in the third quarter worth approximately $47,000. Finally, Kennebec Savings Bank bought a new stake in Conagra Brands in the third quarter worth approximately $59,000. 83.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on CAG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Bank of America reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Citigroup reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average price target of $30.56.

Conagra Brands Price Performance

NYSE:CAG opened at $25.83 on Monday. The stock has a market cap of $12.33 billion, a P/E ratio of 25.32, a PEG ratio of 1.76 and a beta of 0.29. Conagra Brands, Inc. has a one year low of $25.35 and a one year high of $33.24. The company has a fifty day moving average price of $27.25 and a 200 day moving average price of $29.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.42%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Conagra Brands 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.