Zions Bancorporation N.A. Sells 182,414 Shares of Conagra Brands, Inc. (NYSE:CAG)

Zions Bancorporation N.A. decreased its position in Conagra Brands, Inc. (NYSE:CAG) by 99.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,051 shares of the company’s stock after selling 182,414 shares during the quarter. Zions Bancorporation N.A.’s holdings in Conagra Brands were worth $34,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the second quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its stake in shares of 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 during the last quarter. LRI Investments LLC bought a new position in Conagra Brands during the first quarter worth $44,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Conagra Brands during the 3rd quarter valued at $47,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAG has been the topic of several research analyst reports. 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 report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group began coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $26.70 on Friday. 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 business’s fifty day moving average price is $30.20 and its two-hundred day moving average price is $30.03. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

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.