Riverview Trust Co Invests $29,000 in Conagra Brands, Inc. (NYSE:CAG)

Riverview Trust Co acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,053 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also modified their holdings of the company. Clifford Swan Investment Counsel LLC increased its holdings in shares of Conagra Brands by 8.0% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 215,093 shares of the company’s stock worth $5,969,000 after buying an additional 16,001 shares during the last quarter. Metis Global Partners LLC raised its position in Conagra Brands by 84.8% during the fourth quarter. Metis Global Partners LLC now owns 28,279 shares of the company’s stock valued at $785,000 after purchasing an additional 12,977 shares during the period. US Bancorp DE lifted its stake in shares of Conagra Brands by 0.4% in the 4th quarter. US Bancorp DE now owns 212,694 shares of the company’s stock valued at $5,902,000 after purchasing an additional 896 shares during the last quarter. Argyle Capital Management LLC boosted its holdings in shares of Conagra Brands by 16.7% in the 4th quarter. Argyle Capital Management LLC now owns 30,745 shares of the company’s stock worth $853,000 after purchasing an additional 4,400 shares during the period. Finally, Versor Investments LP purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $377,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAG has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective 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. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Barclays cut their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, 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 report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.67.

Conagra Brands Price Performance

Shares of CAG stock opened at $25.54 on Friday. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a market capitalization of $12.19 billion, a P/E ratio of 25.04, a P/E/G ratio of 1.76 and a beta of 0.28. The company’s 50-day simple moving average is $25.98 and its two-hundred day simple moving average is $28.37. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.48%. The ex-dividend date was Monday, January 27th. Conagra Brands’s payout ratio is 137.25%.

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.