Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Bell Bank

Bell Bank lifted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 76.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 282,825 shares of the company’s stock after purchasing an additional 122,120 shares during the period. Bell Bank’s holdings in Conagra Brands were worth $7,848,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands in the 4th quarter worth $28,000. Grove Bank & Trust grew its holdings in Conagra Brands by 65.4% during 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 during the period. Abich Financial Wealth Management LLC bought a new stake in Conagra Brands in the third quarter worth about $47,000. Stonebridge Financial Group LLC acquired a new stake in Conagra Brands in the 4th quarter valued at about $44,000. Finally, Kennebec Savings Bank bought a new position in shares of Conagra Brands during the 3rd quarter valued at about $59,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

CAG stock opened at $25.82 on Friday. The stock has a market cap of $12.32 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.72 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a 50 day simple moving average of $26.15 and a 200 day simple moving average of $28.54. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. Research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on CAG. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Citigroup reduced their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.78.

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.