National Bank of Canada FI Acquires 31,019 Shares of Conagra Brands, Inc. (NYSE:CAG)

National Bank of Canada FI grew its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 15.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,075 shares of the company's stock after buying an additional 31,019 shares during the quarter. National Bank of Canada FI's holdings in Conagra Brands were worth $6,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. purchased 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 boosted its holdings in 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. purchased a new stake in Conagra Brands in the 4th quarter worth $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in Conagra Brands during the fourth quarter valued at about $44,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 1.9 %

NYSE CAG traded up $0.49 during trading hours on Friday, hitting $25.97. 7,994,201 shares of the company were exchanged, compared to its average volume of 5,128,605. The stock has a market cap of $12.40 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The stock has a 50-day moving average price of $25.71 and a 200 day moving average price of $27.14. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion for 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 business's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. Analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Morgan Stanley began coverage on shares of Conagra Brands in a report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective for the company. Bank of America lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Finally, Barclays boosted their price target on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday. Nine 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.90.

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.