Allstate Corp Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Allstate Corp purchased a new position in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,479 shares of the company’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. CIBC Asset Management Inc lifted its position in Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after purchasing an additional 501 shares during the last quarter. Xponance Inc. boosted its stake in Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after purchasing an additional 505 shares during the period. International Private Wealth Advisors LLC grew its position in Conagra Brands by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock worth $295,000 after purchasing an additional 527 shares during the last quarter. Finally, ST Germain D J Co. Inc. increased its stake in shares of Conagra Brands by 36.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Down 1.1 %

Conagra Brands stock opened at $26.32 on Thursday. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The firm’s 50 day moving average price is $25.69 and its two-hundred day moving average price is $27.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.32%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CAG shares. Stifel Nicolaus decreased their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.20.

Conagra Brands Company 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.