Bell Bank Has $5.23 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Bell Bank lowered its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 13.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,705 shares of the company's stock after selling 25,538 shares during the quarter. Bell Bank's holdings in Conagra Brands were worth $5,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Empowered Funds LLC boosted its position in Conagra Brands by 21.4% during the 1st quarter. Empowered Funds LLC now owns 37,439 shares of the company's stock worth $1,110,000 after acquiring an additional 6,610 shares during the period. Avantax Advisory Services Inc. increased its stake in Conagra Brands by 4.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company's stock valued at $334,000 after buying an additional 445 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Conagra Brands by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 502,891 shares of the company's stock worth $14,906,000 after buying an additional 16,003 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Conagra Brands by 13.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,774 shares of the company's stock worth $17,066,000 after purchasing an additional 70,155 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its holdings in shares of Conagra Brands by 2.8% in the first quarter. HBK Sorce Advisory LLC now owns 34,782 shares of the company's stock valued at $1,031,000 after buying an additional 963 shares during the period. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Down 0.7 %

CAG traded down $0.19 on Thursday, reaching $27.46. 5,639,276 shares of the company traded hands, compared to its average volume of 4,709,292. Conagra Brands, Inc. has a 52-week low of $26.62 and a 52-week high of $33.24. 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 company has a market cap of $13.10 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.85 and a beta of 0.34. The stock's 50 day moving average price is $30.32 and its 200-day moving average price is $30.07.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company's revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.10%. Conagra Brands's payout ratio is 135.92%.

Wall Street Analyst Weigh In

CAG has been the topic of a number of research reports. Bank of America dropped their target price on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a research note on Monday, August 12th. They set a "buy" rating and a $36.00 price objective for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Six research 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, Conagra Brands currently has a consensus rating of "Hold" and an average target price of $31.63.

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.