Bank of Montreal Can Acquires 19,312 Shares of Conagra Brands, Inc. (NYSE:CAG)

Bank of Montreal Can raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 909,263 shares of the company’s stock after purchasing an additional 19,312 shares during the quarter. Bank of Montreal Can’s holdings in Conagra Brands were worth $25,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co purchased a new stake in Conagra Brands in the fourth quarter worth $29,000. Grove Bank & Trust increased its position in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Conagra Brands in the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands during the 4th quarter valued at $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 1.9 %

Shares of CAG stock opened at $25.97 on Friday. The company has a market capitalization of $12.40 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The business’s fifty day moving average is $25.71 and its 200 day moving average is $27.14. 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, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the business earned $0.69 EPS. The business’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 5.39%. Conagra Brands’s dividend payout ratio is presently 205.88%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAG. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Stifel Nicolaus lowered their price target 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. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.90.

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.