Huntington National Bank Buys 1,028 Shares of Conagra Brands, Inc. (NYSE:CAG)

Huntington National Bank grew its stake in Conagra Brands, Inc. (NYSE:CAG) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,961 shares of the company’s stock after purchasing an additional 1,028 shares during the quarter. Huntington National Bank’s holdings in Conagra Brands were worth $5,854,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Grove Bank & Trust raised its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after acquiring an additional 501 shares in the last quarter. Xponance Inc. raised its holdings in shares of Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after purchasing an additional 505 shares during the last quarter. International Private Wealth Advisors LLC lifted its position in shares of Conagra Brands by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after purchasing an additional 527 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after purchasing an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

NYSE CAG opened at $26.32 on Thursday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market cap of $12.56 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The firm’s 50-day simple moving average is $25.69 and its two-hundred day simple moving average is $27.52.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.32%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAG shares. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, 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 report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.20.

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.