Advantage Trust Co Makes New $34,000 Investment in Conagra Brands, Inc. (NYSE:CAG)

Advantage Trust Co purchased a new position in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,200 shares of the company’s stock, valued at approximately $34,000.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. boosted its position in Conagra Brands by 14.0% during the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after acquiring an additional 1,737,380 shares during the last quarter. Invesco Ltd. grew its stake in Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares during the period. Federated Hermes Inc. increased its holdings in Conagra Brands by 18.7% in the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after purchasing an additional 1,330,249 shares in the last quarter. Northern Trust Corp increased its holdings in Conagra Brands by 3.8% in the third quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock worth $164,585,000 after purchasing an additional 220,024 shares in the last quarter. Finally, Barclays PLC lifted its stake in Conagra Brands by 75.7% in the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after buying an additional 1,614,986 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Barclays increased their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Citigroup raised their target price on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands Stock Performance

Shares of Conagra Brands stock traded down $0.05 on Thursday, reaching $30.78. 1,959,909 shares of the company traded hands, compared to its average volume of 4,980,254. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm has a market capitalization of $14.71 billion, a PE ratio of 15.47, a PEG ratio of 3.07 and a beta of 0.38. The company has a 50 day moving average of $29.70 and a 200 day moving average of $28.88. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $37.93.

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

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.55%. Conagra Brands’s dividend payout ratio is 70.35%.

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.