Tounjian Advisory Partners LLC Makes New $1.07 Million Investment in Conagra Brands, Inc. (NYSE:CAG)

Tounjian Advisory Partners LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 39,932 shares of the company's stock, valued at approximately $1,065,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in Conagra Brands by 106.4% during the 1st quarter. Farther Finance Advisors LLC now owns 10,003 shares of the company's stock worth $266,000 after buying an additional 5,157 shares during the last quarter. Disciplined Equity Management Inc. grew its stake in Conagra Brands by 107.7% during the 1st quarter. Disciplined Equity Management Inc. now owns 72,740 shares of the company's stock worth $1,940,000 after buying an additional 37,710 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Conagra Brands by 26.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 164,287 shares of the company's stock worth $4,382,000 after buying an additional 34,189 shares during the last quarter. OLD National Bancorp IN grew its stake in Conagra Brands by 8.9% during the 1st quarter. OLD National Bancorp IN now owns 248,179 shares of the company's stock worth $6,619,000 after buying an additional 20,275 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Conagra Brands by 0.3% in the first quarter. UMB Bank n.a. now owns 887,877 shares of the company's stock worth $23,680,000 after purchasing an additional 2,716 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays lowered their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price target for the company from $26.00 to $21.00 in a report on Monday. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price target on the stock. Wells Fargo & Company lowered their price target on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $25.70.

Conagra Brands Price Performance

CAG stock traded down $0.73 during trading hours on Friday, hitting $21.56. 10,692,611 shares of the stock traded hands, compared to its average volume of 5,533,809. The stock has a 50-day simple moving average of $23.65 and a 200 day simple moving average of $25.41. Conagra Brands, Inc. has a one year low of $21.53 and a one year high of $33.24. The company has a market cap of $10.29 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.76 and a beta of 0.14. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the business earned $0.69 EPS. The company's quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands's dividend payout ratio is 205.88%.

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.