Arkadios Wealth Advisors Has $2.32 Million Position in Conagra Brands (NYSE:CAG)

Key Points

• Arkadios Wealth Advisors increased its stake in Conagra Brands by 62.8% in Q1, bringing its holdings to $2.32 million worth of shares.
• Conagra Brands reported a miss on earnings per share, at $0.56 compared to the consensus estimate of $0.61, with quarterly revenue down 4.3% year-over-year.
• The company announced a quarterly dividend of $0.35 per share, translating to an annualized yield of 7.7%.

Arkadios Wealth Advisors increased its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,892 shares of the company's stock after purchasing an additional 33,523 shares during the quarter. Arkadios Wealth Advisors' holdings in Conagra Brands were worth $2,317,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its position in Conagra Brands by 0.6% during the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock valued at $2,166,000 after acquiring an additional 429 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its stake in shares of Conagra Brands by 3.2% in the first quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company's stock worth $388,000 after acquiring an additional 450 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after buying an additional 452 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its stake in Conagra Brands by 1.3% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after buying an additional 500 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Conagra Brands by 33.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,009 shares of the company's stock worth $54,000 after buying an additional 505 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAG. Evercore ISI reduced their target price on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research note on Friday, July 11th. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Stifel Nicolaus lowered their price target on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Finally, Sanford C. Bernstein set a $21.00 price objective on Conagra Brands and gave the company a "market perform" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $22.58.

Conagra Brands Stock Down 1.4%

CAG opened at $18.27 on Friday. 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 market cap of $8.72 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 1.77 and a beta of 0.11. The stock's fifty day simple moving average is $20.87 and its 200 day simple moving average is $23.69. Conagra Brands has a 1-year low of $18.18 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The firm had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The firm's quarterly revenue was down 4.3% on a year-over-year basis. As a group, research analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.7%. Conagra Brands's dividend payout ratio (DPR) is 58.58%.

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.

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