Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 38.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,811 shares of the company’s stock after acquiring an additional 2,149 shares during the period. First Horizon Advisors Inc.’s holdings in Conagra Brands were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. HM Payson & Co. raised its position in shares of Conagra Brands by 18.1% during the third quarter. HM Payson & Co. now owns 2,864 shares of the company’s stock worth $79,000 after purchasing an additional 439 shares during the period. Parkside Financial Bank & Trust raised its holdings in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after buying an additional 454 shares during the period. Blue Trust Inc. lifted its stake in Conagra Brands by 31.7% during the fourth quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $55,000 after buying an additional 473 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Conagra Brands by 26.5% in the third quarter. Venturi Wealth Management LLC now owns 2,304 shares of the company’s stock worth $63,000 after buying an additional 483 shares during the period. Finally, Thompson Investment Management Inc. increased its position in shares of Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research analyst reports. Barclays upped their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company increased 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. Citigroup lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Stifel Nicolaus upped their price target on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.14.

Conagra Brands Stock Performance

Shares of CAG stock opened at $30.59 on Monday. The firm has a market cap of $14.62 billion, a P/E ratio of 15.37, a PEG ratio of 3.07 and a beta of 0.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.20. The stock’s 50-day moving average is $29.50 and its two-hundred day moving average is $28.81.

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

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio 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.