Massmutual Trust Co. FSB ADV Buys 596 Shares of Conagra Brands, Inc. (NYSE:CAG)

Massmutual Trust Co. FSB ADV lifted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,502 shares of the company’s stock after acquiring an additional 596 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Conagra Brands were worth $74,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Rafferty Asset Management LLC grew its holdings in Conagra Brands by 11.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 35,596 shares of the company’s stock valued at $976,000 after buying an additional 3,679 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Conagra Brands by 18.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,711,931 shares of the company’s stock valued at $46,941,000 after buying an additional 264,601 shares during the last quarter. FMR LLC grew its holdings in Conagra Brands by 7.3% in the 3rd quarter. FMR LLC now owns 1,663,917 shares of the company’s stock valued at $45,625,000 after buying an additional 113,241 shares during the last quarter. LPL Financial LLC grew its holdings in Conagra Brands by 20.0% in the 3rd quarter. LPL Financial LLC now owns 950,526 shares of the company’s stock valued at $26,063,000 after buying an additional 158,183 shares during the last quarter. Finally, Mariner LLC grew its holdings in Conagra Brands by 4.5% in the 3rd quarter. Mariner LLC now owns 123,047 shares of the company’s stock valued at $3,374,000 after buying an additional 5,261 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Conagra Brands stock opened at $28.82 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The company has a market capitalization of $13.78 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $34.65. The business has a 50 day simple moving average of $30.13 and a 200 day simple moving average of $29.29.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. Conagra Brands’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were given a dividend of $0.35 per share. The ex-dividend date was Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.86%. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

Insider Buying and Selling

In related news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the transaction, the executive vice president now owns 113,254 shares in the company, valued at approximately $3,439,523.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAG has been the topic of a number of research analyst reports. Citigroup raised their target price on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Barclays raised their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.14.

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.