Bank of Nova Scotia grew its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 27.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 78,259 shares of the company's stock after acquiring an additional 16,865 shares during the period. Bank of Nova Scotia's holdings in Conagra Brands were worth $2,172,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands during the fourth quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands during the 4th quarter valued at $29,000. Grove Bank & Trust grew its stake in shares of Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands during the 4th quarter worth $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in Conagra Brands in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 83.75% of the company's stock.
Analyst Upgrades and Downgrades
CAG has been the subject of several recent research reports. Barclays lifted their target price on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. The Goldman Sachs Group downgraded Conagra Brands from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Morgan Stanley began coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target for the company. Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. 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 report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.90.
Check Out Our Latest Analysis on Conagra Brands
Conagra Brands Trading Up 1.7 %
NYSE:CAG traded up $0.41 during trading hours on Thursday, reaching $25.31. The company's stock had a trading volume of 3,226,487 shares, compared to its average volume of 5,118,053. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.76 and a beta of 0.27. The firm has a 50-day simple moving average of $25.74 and a 200-day simple moving average of $27.03. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24.
Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share 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 during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $0.69 EPS. The company's revenue was down 6.3% on a year-over-year basis. Research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.
Conagra Brands Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is 205.88%.
About Conagra Brands
(
Free Report)
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.
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