Commerce Bank Purchases 1,718 Shares of Conagra Brands, Inc. (NYSE:CAG)

Commerce Bank increased its position in Conagra Brands, Inc. (NYSE:CAG) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,408 shares of the company’s stock after purchasing an additional 1,718 shares during the quarter. Commerce Bank’s holdings in Conagra Brands were worth $1,444,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Segall Bryant & Hamill LLC acquired a new position in Conagra Brands during the third quarter worth approximately $1,112,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Conagra Brands during the 3rd quarter worth approximately $989,000. Prospera Financial Services Inc bought a new stake in Conagra Brands in the 3rd quarter valued at $360,000. Caprock Group LLC lifted its holdings in Conagra Brands by 32.9% during the 3rd quarter. Caprock Group LLC now owns 26,971 shares of the company’s stock valued at $877,000 after purchasing an additional 6,677 shares during the last quarter. Finally, Baron Wealth Management LLC bought a new position in Conagra Brands during the third quarter worth $217,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAG has been the topic of several research analyst reports. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Bank of America decreased their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Performance

NYSE:CAG opened at $27.42 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.80 and a beta of 0.34. The stock has a fifty day moving average price of $29.67 and a 200-day moving average price of $29.91.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.11%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

About Conagra Brands

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.