Inspire Trust Co. N.A. Has $2.78 Million Stake in Conagra Brands, Inc. (NYSE:CAG)

Inspire Trust Co. N.A. grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 14.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,587 shares of the company’s stock after purchasing an additional 11,000 shares during the period. Inspire Trust Co. N.A.’s holdings in Conagra Brands were worth $2,783,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after acquiring an additional 3,133,200 shares during the period. Marshall Wace LLP grew its holdings in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Conagra Brands in the third quarter worth $65,932,000. Finally, Federated Hermes Inc. raised its stake in Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAG has been the topic of a number of analyst reports. Bank of America reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Citigroup decreased 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 note on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.50.

Conagra Brands Stock Up 1.2 %

CAG opened at $28.05 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm has a market capitalization of $13.39 billion, a P/E ratio of 27.23, a PEG ratio of 2.86 and a beta of 0.31. The company’s 50-day moving average is $28.42 and its 200 day moving average is $29.61. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Research analysts expect that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.99%. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

Conagra Brands Profile

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.