Park Place Capital Corp Increases Position in Conagra Brands, Inc. (NYSE:CAG)

Park Place Capital Corp boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,901 shares of the company’s stock after purchasing an additional 1,190 shares during the period. Park Place Capital Corp’s holdings in Conagra Brands were worth $353,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

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

Conagra Brands Stock Down 0.4 %

CAG stock opened at $28.30 on Tuesday. The company’s 50 day moving average is $29.93 and its 200 day moving average is $29.25. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.76 and a beta of 0.32. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $34.38.

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

Conagra Brands Announces Dividend

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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Monday, April 29th. Conagra Brands’s payout ratio is currently 70.35%.

Insider Activity

In related news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

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.