Intrust Bank NA Takes Position in Conagra Brands, Inc. (NYSE:CAG)

Intrust Bank NA acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,560 shares of the company’s stock, valued at approximately $245,000.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Conagra Brands by 188.3% during the fourth quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after acquiring an additional 100,141 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Conagra Brands by 120.3% in the third quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock valued at $23,572,000 after buying an additional 469,421 shares during the period. Adams Asset Advisors LLC acquired a new position in Conagra Brands during the fourth quarter valued at approximately $7,690,000. Assenagon Asset Management S.A. lifted its position in Conagra Brands by 368.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock valued at $29,126,000 after buying an additional 799,175 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after buying an additional 2,619,372 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Conagra Brands Stock Performance

CAG stock opened at $30.73 on Thursday. The firm has a market cap of $14.69 billion, a P/E ratio of 15.44, a P/E/G ratio of 3.09 and a beta of 0.38. The stock’s 50 day simple moving average is $29.35 and its 200 day simple moving average is $28.74. 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 12-month low of $25.16 and a 12-month high of $38.73.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm posted $0.76 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

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.