Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,705 shares of the company’s stock after selling 1,012 shares during the period. Synovus Financial Corp’s holdings in Conagra Brands were worth $297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in shares of Conagra Brands by 0.6% in the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock worth $2,166,000 after acquiring an additional 429 shares during the last quarter. Grove Bank & Trust lifted its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its stake in shares of Conagra Brands by 1.3% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock worth $1,030,000 after purchasing an additional 500 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Conagra Brands by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after buying an additional 501 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Conagra Brands by 0.8% during the fourth quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after buying an additional 505 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on CAG shares. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Barclays upped their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Morgan Stanley assumed coverage on shares of Conagra Brands in a research report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.90.

Conagra Brands Price Performance

Conagra Brands stock opened at $25.31 on Friday. The firm has a fifty day moving average of $25.77 and a 200-day moving average of $26.93. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. 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 firm has a market capitalization of $12.08 billion, a P/E ratio of 24.82, a PEG ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.53%. The ex-dividend date is Monday, April 28th. Conagra Brands’s dividend payout ratio (DPR) is 205.88%.

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.