Intrust Bank NA Makes New $245,000 Investment in Conagra Brands, Inc. (NYSE:CAG)

Intrust Bank NA purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, HoldingsChannel reports. The firm purchased 8,560 shares of the company’s stock, valued at approximately $245,000.

Other institutional investors have also made changes to their positions in the company. Brookstone Capital Management boosted its position in shares of Conagra Brands by 5.0% in the third quarter. Brookstone Capital Management now owns 31,776 shares of the company’s stock valued at $863,000 after acquiring an additional 1,504 shares during the period. Commonwealth Equity Services LLC grew its position in Conagra Brands by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 191,649 shares of the company’s stock worth $5,255,000 after purchasing an additional 2,207 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Conagra Brands by 15.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 111,117 shares of the company’s stock worth $3,047,000 after purchasing an additional 14,900 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Conagra Brands by 1.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock worth $781,000 after purchasing an additional 393 shares during the period. Finally, FinTrust Capital Advisors LLC raised its position in shares of Conagra Brands by 71.1% during the third quarter. FinTrust Capital Advisors LLC now owns 7,031 shares of the company’s stock valued at $193,000 after buying an additional 2,922 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Down 0.2 %

CAG stock opened at $30.73 on Thursday. The business has a fifty day moving average price of $29.35 and a 200 day moving average price of $28.74. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.73. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 3.09 and a beta of 0.38.

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

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.56%. Conagra Brands’s dividend payout ratio (DPR) is currently 70.35%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Royal Bank of Canada cut their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Citigroup increased their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Barclays raised their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. 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, the stock has an average rating of “Hold” and a consensus target price 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.