AE Wealth Management LLC Boosts Holdings in Conagra Brands (NYSE:CAG)

AE Wealth Management LLC lifted its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 468,573 shares of the company's stock after purchasing an additional 28,995 shares during the quarter. AE Wealth Management LLC owned about 0.10% of Conagra Brands worth $12,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAG. Triumph Capital Management boosted its stake in Conagra Brands by 3.9% during the first quarter. Triumph Capital Management now owns 34,148 shares of the company's stock worth $911,000 after buying an additional 1,266 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in Conagra Brands by 3.2% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company's stock valued at $388,000 after purchasing an additional 450 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in Conagra Brands by 8.8% in the first quarter. KLP Kapitalforvaltning AS now owns 197,414 shares of the company's stock valued at $5,265,000 after purchasing an additional 16,000 shares during the period. Kennondale Capital Management LLC lifted its stake in Conagra Brands by 488.0% during the first quarter. Kennondale Capital Management LLC now owns 70,222 shares of the company's stock worth $1,873,000 after purchasing an additional 58,280 shares in the last quarter. Finally, Ignite Planners LLC boosted its position in shares of Conagra Brands by 20.7% during the first quarter. Ignite Planners LLC now owns 21,344 shares of the company's stock worth $569,000 after buying an additional 3,654 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of CAG traded down $0.31 during midday trading on Thursday, reaching $19.32. 9,926,101 shares of the stock were exchanged, compared to its average volume of 11,560,979. Conagra Brands has a twelve month low of $18.67 and a twelve month high of $33.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 1.88 and a beta of 0.11. The business's 50-day moving average price is $21.26 and its 200 day moving average price is $23.95.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The business had revenue of $2,781,800 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter last year, the business posted $0.61 earnings per share. The business's revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.25%. Conagra Brands's dividend payout ratio (DPR) is 58.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CAG shares. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Morgan Stanley lowered their price objective on shares of Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. Bank of America cut Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. The Goldman Sachs Group cut Conagra Brands from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. Finally, Evercore ISI reduced their price target on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $22.58.

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.