Smithfield Trust Co Has $27,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Smithfield Trust Co lowered its holdings in Conagra Brands, Inc. (NYSE:CAG) by 47.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 977 shares of the company’s stock after selling 880 shares during the quarter. Smithfield Trust Co’s holdings in Conagra Brands were worth $27,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Empirical Finance LLC grew its holdings in Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after buying an additional 362 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in Conagra Brands by 1.5% during the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after buying an additional 376 shares in the last quarter. Grove Bank & Trust grew its holdings in Conagra Brands by 65.4% during 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 in the last quarter. CIBC Asset Management Inc grew its holdings in Conagra Brands by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after buying an additional 501 shares in the last quarter. Finally, International Private Wealth Advisors LLC grew its holdings in Conagra Brands by 5.2% during the 4th quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after buying an additional 527 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

NYSE:CAG opened at $25.39 on Thursday. The business has a 50 day moving average of $25.90 and a 200 day moving average of $28.29. The company has a market capitalization of $12.12 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. 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 released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share 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 company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $0.71 EPS. Conagra Brands’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.52%. Conagra Brands’s payout ratio is currently 137.25%.

Analysts Set New Price Targets

A number of research firms have weighed in on CAG. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $26.00 in a report on Monday, February 24th. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company 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 for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Eight 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.67.

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.