First Bank & Trust Has $1.83 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

First Bank & Trust lessened its holdings in Conagra Brands, Inc. (NYSE:CAG) by 10.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,371 shares of the company’s stock after selling 6,871 shares during the period. First Bank & Trust’s holdings in Conagra Brands were worth $1,833,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its stake in Conagra Brands by 17.7% during the first quarter. Park Avenue Securities LLC now owns 11,903 shares of the company’s stock worth $353,000 after buying an additional 1,794 shares during the last quarter. Sunbelt Securities Inc. grew its stake in Conagra Brands by 911.1% during the first quarter. Sunbelt Securities Inc. now owns 2,639 shares of the company’s stock worth $78,000 after buying an additional 2,378 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Conagra Brands by 10.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 39,525 shares of the company’s stock worth $1,172,000 after buying an additional 3,638 shares during the last quarter. Iron Horse Wealth Management LLC bought a new stake in Conagra Brands during the first quarter worth about $59,000. Finally, Park Place Capital Corp grew its stake in Conagra Brands by 11.1% during the first quarter. Park Place Capital Corp now owns 11,901 shares of the company’s stock worth $353,000 after buying an additional 1,190 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CAG has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Citigroup decreased 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, Bank of America decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average price target of $31.63.

Conagra Brands Trading Up 0.3 %

CAG traded up $0.08 during mid-day trading on Friday, hitting $29.43. The stock had a trading volume of 2,474,903 shares, compared to its average volume of 4,744,295. The stock’s fifty day simple moving average is $31.06 and its 200-day simple moving average is $30.26. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 3.03 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.76%. Conagra Brands’s payout ratio is 135.92%.

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.