National Bank of Canada FI Has $6.57 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

National Bank of Canada FI grew its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 38.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,056 shares of the company's stock after buying an additional 56,306 shares during the period. National Bank of Canada FI's holdings in Conagra Brands were worth $6,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Courier Capital LLC boosted its stake in Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company's stock worth $880,000 after acquiring an additional 355 shares during the last quarter. CWM LLC increased its position in shares of Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company's stock valued at $2,836,000 after buying an additional 359 shares in the last quarter. Empirical Finance LLC raised its stake in Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company's stock worth $533,000 after buying an additional 362 shares during the period. Arkadios Wealth Advisors grew its stake in Conagra Brands by 0.7% in the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company's stock valued at $1,716,000 after acquiring an additional 376 shares during the period. Finally, Bridgewater Advisors Inc. increased its holdings in shares of Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company's stock worth $820,000 after acquiring an additional 376 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 1.2 %

NYSE CAG traded up $0.34 during trading hours on Thursday, hitting $28.07. 4,677,409 shares of the company traded hands, compared to its average volume of 4,772,361. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.80 and a beta of 0.31. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The business's 50-day moving average is $28.45 and its 200-day moving average is $29.62. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

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

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.99%. Conagra Brands's payout ratio is currently 135.92%.

Analyst Upgrades and Downgrades

CAG has been the subject of several research analyst reports. Citigroup decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday. Bank of America dropped their price objective 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. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Conagra Brands presently has an average rating of "Hold" and a consensus price target of $31.50.

About Conagra Brands

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.