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

Inspire Trust Co. N.A. boosted its stake in Conagra Brands, Inc. (NYSE:CAG) by 14.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,587 shares of the company’s stock after purchasing an additional 11,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Conagra Brands were worth $2,783,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CAG. State Street Corp increased its stake in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares in the last quarter. Geode Capital Management LLC raised its holdings in Conagra Brands by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after buying an additional 196,100 shares during the period. Federated Hermes Inc. lifted 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 buying an additional 1,871,238 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after acquiring an additional 122,590 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 1.2 %

CAG stock opened at $28.05 on Friday. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 2.86 and a beta of 0.31. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $28.42 and a two-hundred day moving average price of $29.61.

Conagra Brands (NYSE:CAG) last released its earnings results 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the business posted $0.66 earnings per share. Conagra Brands’s quarterly revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Conagra Brands, Inc. will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on CAG shares. Wells Fargo & Company boosted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America cut their target price on 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, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $31.50.

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.