Kennebec Savings Bank Invests $59,000 in Conagra Brands, Inc. (NYSE:CAG)

Kennebec Savings Bank acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,800 shares of the company’s stock, valued at approximately $59,000.

Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC lifted its position in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. LRI Investments LLC bought a new position in shares of Conagra Brands during the 1st quarter worth approximately $42,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Bank of America cut their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group began coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Down 2.5 %

NYSE:CAG opened at $27.74 on Tuesday. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.93 and a beta of 0.34. The stock has a 50-day moving average price of $30.60 and a two-hundred day moving average price of $30.13.

Conagra Brands (NYSE:CAG) last issued 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.05%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

About Conagra Brands

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.