Conagra Brands, Inc. (NYSE:CAG) Stock Position Lowered by Home Federal Bank of Tennessee

Home Federal Bank of Tennessee lessened its position in Conagra Brands, Inc. (NYSE:CAG) by 3.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,900 shares of the company’s stock after selling 660 shares during the quarter. Home Federal Bank of Tennessee’s holdings in Conagra Brands were worth $552,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Brookstone Capital Management lifted its position in shares of Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after acquiring an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after acquiring an additional 19,329 shares in the last quarter. Nordea Investment Management AB lifted its position in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after buying an additional 618,096 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $1,020,000. Finally, Pacer Advisors Inc. lifted its position in Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

NYSE:CAG opened at $25.89 on Monday. Conagra Brands, Inc. has a 1 year low of $25.06 and a 1 year high of $33.24. The firm’s fifty day simple moving average is $26.97 and its 200 day simple moving average is $29.05. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $12.36 billion, a PE ratio of 25.38, a PEG ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $0.71 EPS. Conagra Brands’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.41%. Conagra Brands’s payout ratio is presently 137.26%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Barclays cut 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 report on Monday, December 23rd. Wells Fargo & Company cut their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Citigroup dropped 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 note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average price target of $30.33.

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.