Grove Bank & Trust Has $31,000 Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Grove Bank & Trust grew its position in Conagra Brands, Inc. (NYSE:CAG) by 65.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,131 shares of the company’s stock after acquiring an additional 447 shares during the period. Grove Bank & Trust’s holdings in Conagra Brands were worth $31,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after purchasing an additional 633,794 shares during the period. Renaissance Technologies LLC acquired a new position in Conagra Brands in the 2nd quarter worth $6,831,000. Mercer Global Advisors Inc. ADV boosted its stake in Conagra Brands by 27.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 76,898 shares of the company’s stock worth $2,185,000 after purchasing an additional 16,700 shares during the period. Amalgamated Bank boosted its stake in Conagra Brands by 32.8% in the 2nd quarter. Amalgamated Bank now owns 132,296 shares of the company’s stock worth $3,760,000 after purchasing an additional 32,708 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Conagra Brands by 18.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 29,818 shares of the company’s stock worth $848,000 after purchasing an additional 4,697 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CAG. Barclays reduced their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Bank of America cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.56.

Conagra Brands Stock Up 0.1 %

Shares of CAG stock opened at $25.83 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm’s 50-day moving average is $27.21 and its 200-day moving average is $29.24. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.76 and a beta of 0.29. Conagra Brands, Inc. has a 52-week low of $25.35 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Sell-side analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.42%. Conagra Brands’s dividend payout ratio is currently 137.26%.

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.