Sunbelt Securities Inc. Has $78,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Sunbelt Securities Inc. increased its position in Conagra Brands, Inc. (NYSE:CAG) by 911.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,639 shares of the company’s stock after buying an additional 2,378 shares during the period. Sunbelt Securities Inc.’s holdings in Conagra Brands were worth $78,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Naples Money Management LLC bought a new position in Conagra Brands during the fourth quarter valued at about $26,000. First United Bank & Trust bought a new position in shares of Conagra Brands in the 4th quarter valued at approximately $26,000. Advantage Trust Co acquired a new stake in Conagra Brands in the 4th quarter worth approximately $34,000. Parkside Financial Bank & Trust boosted its position in Conagra Brands by 48.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares during the period. Finally, Bogart Wealth LLC grew its holdings in Conagra Brands by 143.3% during the fourth quarter. Bogart Wealth LLC now owns 1,550 shares of the company’s stock valued at $44,000 after purchasing an additional 913 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Insider Activity

In related news, EVP Charisse Brock sold 15,444 shares of the 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 sale, the executive vice president now directly owns 113,254 shares in the company, valued at approximately $3,439,523.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CAG. Citigroup reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday. Stifel Nicolaus raised their price target on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Barclays lifted their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

Conagra Brands Price Performance

Conagra Brands stock opened at $28.42 on Friday. The business has a 50 day simple moving average of $29.98 and a 200 day simple moving average of $29.27. 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 $13.59 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 2.75 and a beta of 0.32. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $34.38.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.76 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

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.