First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Conagra Brands Inc (NYSE:CAG) by 42.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,932 shares of the company’s stock after acquiring an additional 33,101 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Conagra Brands were worth $3,105,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Capital Investment Advisory Services LLC acquired a new stake in shares of Conagra Brands in the fourth quarter worth approximately $26,000. Princeton Global Asset Management LLC acquired a new stake in shares of Conagra Brands in the fourth quarter worth approximately $26,000. 1832 Asset Management L.P. acquired a new stake in shares of Conagra Brands in the fourth quarter worth approximately $28,000. Kaizen Advisory LLC boosted its stake in shares of Conagra Brands by 47.3% in the fourth quarter. Kaizen Advisory LLC now owns 1,380 shares of the company’s stock worth $29,000 after acquiring an additional 443 shares during the last quarter. Finally, Timber Creek Capital Management LLC boosted its stake in shares of Conagra Brands by 143.1% in the fourth quarter. Timber Creek Capital Management LLC now owns 1,580 shares of the company’s stock worth $33,000 after acquiring an additional 930 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.
Shares of Conagra Brands stock traded up $0.39 during trading hours on Wednesday, hitting $31.28. The company’s stock had a trading volume of 5,750,453 shares, compared to its average volume of 8,036,318. Conagra Brands Inc has a twelve month low of $20.22 and a twelve month high of $39.43. The firm has a market cap of $14.97 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77. The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 1.49.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, April 30th will be issued a $0.2125 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.72%. Conagra Brands’s dividend payout ratio is presently 40.28%.
A number of equities analysts have weighed in on CAG shares. Goldman Sachs Group lowered Conagra Brands from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Zacks Investment Research reissued a “sell” rating on shares of Conagra Brands in a research note on Monday, December 31st. Bank of America set a $30.00 price objective on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, March 22nd. Credit Suisse Group boosted their price objective on Conagra Brands from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Finally, ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Conagra Brands presently has an average rating of “Buy” and an average price target of $37.90.
In other news, Director Joie A. Gregor acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were purchased at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the acquisition, the director now owns 145,440 shares of the company’s stock, valued at $4,361,745.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by insiders.
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Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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