Moody National Bank Trust Division Has $523,000 Holdings in Conagra Brands, Inc. (NYSE:CAG)

Moody National Bank Trust Division raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAGGet Rating) by 41.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,270 shares of the company’s stock after buying an additional 4,482 shares during the quarter. Moody National Bank Trust Division’s holdings in Conagra Brands were worth $523,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Fulton Bank N.A. lifted its holdings in shares of Conagra Brands by 1.7% during the second quarter. Fulton Bank N.A. now owns 34,924 shares of the company’s stock worth $1,196,000 after buying an additional 578 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Conagra Brands by 282,137.5% during the second quarter. GoalVest Advisory LLC now owns 22,579 shares of the company’s stock worth $776,000 after buying an additional 22,571 shares during the last quarter. Red Spruce Capital LLC lifted its holdings in shares of Conagra Brands by 7.5% during the second quarter. Red Spruce Capital LLC now owns 42,812 shares of the company’s stock worth $1,466,000 after buying an additional 2,986 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Conagra Brands during the first quarter worth approximately $53,000. Finally, Bank of America Corp DE lifted its holdings in shares of Conagra Brands by 4.4% during the first quarter. Bank of America Corp DE now owns 5,085,658 shares of the company’s stock worth $170,726,000 after buying an additional 215,014 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $33.83 on Monday. The business’s fifty day moving average price is $34.38 and its two-hundred day moving average price is $33.91. Conagra Brands, Inc. has a fifty-two week low of $30.06 and a fifty-two week high of $36.97. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31.

Conagra Brands (NYSE:CAGGet Rating) last announced its quarterly earnings results on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that Conagra Brands, Inc. will post 2.41 EPS for the current fiscal year.

Conagra Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 3rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Tuesday, August 2nd. This is a boost from Conagra Brands’s previous quarterly dividend of $0.31. Conagra Brands’s dividend payout ratio is presently 71.74%.

Insider Transactions at Conagra Brands

In other Conagra Brands news, Director Emanuel Chirico bought 30,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were bought at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the completion of the acquisition, the director now owns 40,788 shares of the company’s stock, valued at $1,389,239.28. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Conagra Brands news, Director Emanuel Chirico bought 30,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were bought at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the completion of the acquisition, the director now owns 40,788 shares of the company’s stock, valued at $1,389,239.28. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas M. Mcgough sold 21,405 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total value of $757,737.00. Following the sale, the chief operating officer now owns 104,859 shares in the company, valued at approximately $3,712,008.60. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CAG shares. UBS Group boosted their price objective on Conagra Brands from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Conagra Brands from $35.00 to $32.00 in a research report on Friday, July 15th. Morgan Stanley lowered their price objective on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Credit Suisse Group lowered their price objective on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Finally, Citigroup lowered their price objective on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average price target of $35.67.

Conagra Brands Profile

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

See Also

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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