CENTRAL TRUST Co Sells 617 Shares of Conagra Brands, Inc. (NYSE:CAG)

CENTRAL TRUST Co cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 8.5% during the 4th quarter, Holdings Channel reports. The firm owned 6,634 shares of the company’s stock after selling 617 shares during the period. CENTRAL TRUST Co’s holdings in Conagra Brands were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands during the fourth quarter worth approximately $28,000. Hexagon Capital Partners LLC boosted 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 acquiring an additional 420 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands during the 3rd quarter worth approximately $47,000. Finally, ST Germain D J Co. Inc. boosted its position in shares of Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAG. Barclays reduced their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock 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 on the stock in a research report on Friday, January 3rd. Citigroup cut their target price 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. Finally, Stifel Nicolaus cut their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Seven 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.33.

Conagra Brands Price Performance

CAG stock opened at $25.03 on Wednesday. The company has a fifty day moving average price of $26.88 and a 200-day moving average price of $28.99. The company has a market capitalization of $11.94 billion, a P/E ratio of 24.53, a PEG ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 52-week low of $24.85 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

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

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s 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.