Allianz SE Invests $418,000 in Conagra Brands (NYSE:CAG)

Key Points

• Allianz SE has invested approximately $418,000 in Conagra Brands, acquiring 15,664 shares of the company's stock in the first quarter.
• Conagra Brands reported $0.56 EPS for the most recent quarter, which was below analysts' expectations, with revenue down 4.3% compared to the same quarter last year.
• The company recently announced a $0.35 quarterly dividend with an annualized yield of 7.6%, reflecting a payout ratio of 58.58%.

Allianz SE acquired a new stake in Conagra Brands (NYSE:CAG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,664 shares of the company's stock, valued at approximately $418,000.

Other large investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of Conagra Brands in the 1st quarter valued at $26,000. Capital Advisors Ltd. LLC raised its stake in shares of Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after acquiring an additional 452 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Conagra Brands during the 1st quarter valued at $27,000. Golden State Wealth Management LLC boosted its position in Conagra Brands by 235.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 741 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Conagra Brands in the 1st quarter valued at $34,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAG has been the topic of several recent research reports. Royal Bank Of Canada reduced their price target on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, July 11th. Wells Fargo & Company dropped their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. Barclays reduced their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and cut their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.58.

Conagra Brands Stock Up 1.4%

NYSE:CAG opened at $18.52 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $20.79 and a 200-day moving average of $23.61. The firm has a market capitalization of $8.84 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 1.77 and a beta of 0.08. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $2,781,800 billion for the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. Analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.6%. Conagra Brands's dividend payout ratio is 58.58%.

Conagra Brands 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.

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