Zions Bancorporation N.A. Has $34,000 Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Zions Bancorporation N.A. decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 99.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,051 shares of the company’s stock after selling 182,414 shares during the period. Zions Bancorporation N.A.’s holdings in Conagra Brands were worth $34,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the second quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC lifted its holdings in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Conagra Brands in the 1st quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Performance

CAG stock opened at $26.70 on Friday. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.74 billion, a PE ratio of 25.92, a P/E/G ratio of 2.85 and a beta of 0.34. The business’s 50-day moving average price is $30.20 and its two-hundred day moving average price is $30.03.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is 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.