Cadence Bank Makes New $7.41 Million Investment in Conagra Brands, Inc. (NYSE:CAG)

Cadence Bank bought a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 267,156 shares of the company's stock, valued at approximately $7,414,000. Cadence Bank owned about 0.06% of Conagra Brands as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Barclays upped their target price on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Stifel Nicolaus lowered 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. Wells Fargo & Company lowered their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $27.90.

Conagra Brands Price Performance

CAG traded up $0.09 on Tuesday, reaching $25.48. The company had a trading volume of 2,793,703 shares, compared to its average volume of 5,124,421. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $12.16 billion, a P/E ratio of 24.98, a PEG ratio of 1.76 and a beta of 0.27. The company has a fifty day moving average of $25.78 and a 200-day moving average of $26.87.

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

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.49%. Conagra Brands's dividend payout ratio is 205.88%.

Conagra Brands Company 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.