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

Huntington National Bank increased its position in Conagra Brands, Inc. (NYSE:CAG) by 0.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 210,961 shares of the company’s stock after acquiring 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.

A number of other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands during the 4th quarter valued at $29,000. Grove Bank & Trust increased its holdings in shares of 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 purchasing an additional 447 shares during the period. SBI Securities Co. Ltd. bought a new stake in Conagra Brands during the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in Conagra Brands during the fourth quarter valued at $44,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of 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 stock has a market cap of $12.56 billion, a PE ratio of 25.80, a PEG ratio of 1.76 and a beta of 0.18. The company’s fifty day moving average is $25.69 and its 200 day moving average is $27.52. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CAG shares. Morgan Stanley began coverage on Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company cut their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Citigroup lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.