Parkside Financial Bank & Trust Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Parkside Financial Bank & Trust raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 48.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,397 shares of the company’s stock after purchasing an additional 454 shares during the period. Parkside Financial Bank & Trust’s holdings in Conagra Brands were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CAG. OLD National Bancorp IN raised its position in shares of Conagra Brands by 10.5% in the fourth quarter. OLD National Bancorp IN now owns 240,895 shares of the company’s stock valued at $6,904,000 after buying an additional 22,902 shares during the last quarter. CWM LLC raised its position in shares of Conagra Brands by 329.5% in the fourth quarter. CWM LLC now owns 83,292 shares of the company’s stock valued at $2,387,000 after buying an additional 63,897 shares during the last quarter. Signaturefd LLC raised its position in shares of Conagra Brands by 36.7% in the fourth quarter. Signaturefd LLC now owns 25,251 shares of the company’s stock valued at $724,000 after buying an additional 6,774 shares during the last quarter. abrdn plc raised its position in shares of Conagra Brands by 16.8% in the fourth quarter. abrdn plc now owns 215,059 shares of the company’s stock valued at $6,164,000 after buying an additional 30,915 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Conagra Brands by 2.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 734,629 shares of the company’s stock valued at $21,054,000 after buying an additional 19,609 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG stock opened at $31.07 on Friday. The company has a market capitalization of $14.85 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.42. The firm has a fifty day simple moving average of $29.23 and a 200-day simple moving average of $28.67. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $38.73.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.51%. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

Analyst Ratings Changes

Several brokerages recently commented on CAG. Stifel Nicolaus upped their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Barclays upped their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Royal Bank of Canada dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Citigroup upped their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.14.

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.