UMB Bank n.a. Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

UMB Bank n.a. lifted its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 889,863 shares of the company's stock after purchasing an additional 22,488 shares during the quarter. UMB Bank n.a. owned about 0.19% of Conagra Brands worth $28,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Conagra Brands in the second quarter worth approximately $25,000. Hexagon Capital Partners LLC increased its stake in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock worth $30,000 after acquiring an additional 420 shares during the last quarter. Whittier Trust Co. raised its position in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company's stock valued at $42,000 after purchasing an additional 836 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Conagra Brands in the 1st quarter valued at $44,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 0.4 %

Shares of NYSE:CAG traded up $0.12 during trading on Thursday, hitting $29.43. The company's stock had a trading volume of 4,119,540 shares, compared to its average volume of 4,785,810. The business has a 50 day moving average price of $31.20 and a two-hundred day moving average price of $30.28. The company has a market capitalization of $14.07 billion, a PE ratio of 40.32, a P/E/G ratio of 2.95 and a beta of 0.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. Conagra Brands, Inc. has a fifty-two week low of $26.51 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business 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 14.31% and a net margin of 2.88%. The business's revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. As a group, research analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.76%. Conagra Brands's dividend payout ratio (DPR) is 191.78%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAG. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, July 12th. Barclays decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, July 10th. Evercore ISI dropped their target price on shares of Conagra Brands from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Friday, July 12th. Finally, The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a "buy" rating and a $36.00 target price for the company. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and a consensus target price of $31.63.

Insiders Place Their Bets

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company's stock.

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.