Allstate Corp Purchases Shares of 14,479 Conagra Brands, Inc. (NYSE:CAG)

Allstate Corp acquired a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,479 shares of the company's stock, valued at approximately $402,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co bought a new stake in shares of Conagra Brands during the 4th quarter valued at $29,000. Grove Bank & Trust grew its position in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands in the 4th quarter worth about $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands during the 4th quarter valued at about $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAG has been the topic of a number of recent research reports. Morgan Stanley started coverage on shares of Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective on the stock. Stifel Nicolaus cut their price target on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Barclays lifted their price objective on Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday. Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.90.

Conagra Brands Stock Performance

Shares of Conagra Brands stock traded down $0.69 during trading on Monday, hitting $25.99. 9,645,810 shares of the company's stock traded hands, compared to its average volume of 5,096,701. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The business has a 50-day simple moving average of $25.73 and a 200-day simple moving average of $27.36. The stock has a market capitalization of $12.40 billion, a P/E ratio of 25.48, a PEG ratio of 1.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the business earned $0.69 EPS. The business's revenue was down 6.3% compared to the same quarter last year. As a group, analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 5.39%. Conagra Brands's dividend payout ratio is presently 205.88%.

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.