Community Bank N.A. Has $2.13 Million Holdings in Conagra Brands $CAG

Community Bank N.A. increased its stake in shares of Conagra Brands (NYSE:CAG) by 32.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 158,103 shares of the company’s stock after acquiring an additional 38,556 shares during the period. Community Bank N.A.’s holdings in Conagra Brands were worth $2,128,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CAG. Bell Investment Advisors Inc grew its position in Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after acquiring an additional 1,029 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Conagra Brands during the second quarter valued at $26,000. Harbour Investments Inc. boosted its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Conagra Brands in the 2nd quarter valued at $29,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Conagra Brands by 339.7% in the 2nd quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock worth $31,000 after purchasing an additional 1,756 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 1.3%

Shares of NYSE CAG opened at $15.28 on Wednesday. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32. The firm’s 50-day simple moving average is $15.09 and its 200 day simple moving average is $15.03. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The company has a market cap of $7.31 billion, a price-to-earnings ratio of -3.82 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the company posted $0.56 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, research analysts expect that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th were issued a $0.175 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.6%. Conagra Brands’s dividend payout ratio (DPR) is currently -17.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CAG shares. JPMorgan Chase & Co. increased their target price on shares of Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Evercore decreased their price objective on shares of Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. UBS Group lifted their target price on shares of Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, June 18th. Finally, Jefferies Financial Group reduced their target price on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Conagra Brands currently has an average rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.