Zions Bancorporation N.A. Sells 182,414 Shares of Conagra Brands, Inc. (NYSE:CAG)

Zions Bancorporation N.A. lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 99.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,051 shares of the company's stock after selling 182,414 shares during the period. Zions Bancorporation N.A.'s holdings in Conagra Brands were worth $34,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. raised its stake in shares of Conagra Brands by 4.1% in 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 in the last quarter. Kingsview Wealth Management LLC boosted its stake in Conagra Brands by 8.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,589 shares of the company's stock worth $255,000 after acquiring an additional 695 shares during the last quarter. M&G Plc acquired a new stake in shares of Conagra Brands in the first quarter valued at approximately $7,429,000. Edgestream Partners L.P. acquired a new position in shares of Conagra Brands in the first quarter valued at approximately $394,000. Finally, Bahl & Gaynor Inc. raised its holdings in shares of Conagra Brands by 9.3% during the 1st quarter. Bahl & Gaynor Inc. now owns 465,632 shares of the company's stock worth $13,801,000 after buying an additional 39,718 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Conagra Brands Trading Down 2.7 %

Shares of NYSE:CAG traded down $0.75 during midday trading on Friday, reaching $26.70. The company's stock had a trading volume of 10,674,028 shares, compared to its average volume of 4,050,249. The firm has a 50 day moving average price of $30.20 and a two-hundred day moving average price of $30.03. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.75 and a beta of 0.34. 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 announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Thursday, October 31st. Conagra Brands's dividend payout ratio (DPR) is presently 135.92%.

Analysts Set New Price Targets

Several brokerages have commented on CAG. Wells Fargo & Company boosted their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They issued a "buy" rating and a $36.00 price objective for the company. Bank of America reduced 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. Finally, BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of "Hold" and an average target price of $31.63.

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.