Conagra Brands (NYSE:CAG) Shares Bought by Cerity Partners LLC

Cerity Partners LLC boosted its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 12.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 461,740 shares of the company's stock after purchasing an additional 51,511 shares during the period. Cerity Partners LLC owned about 0.10% of Conagra Brands worth $12,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management purchased a new stake in Conagra Brands in the 1st quarter worth approximately $26,000. Capital Advisors Ltd. LLC lifted its position in shares of Conagra Brands by 82.3% in the first 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 in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after acquiring an additional 741 shares during the period. Wayfinding Financial LLC bought a new position in shares of Conagra Brands during the first quarter worth $34,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of Conagra Brands by 86.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after buying an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CAG. Royal Bank Of Canada dropped their target price on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday. Morgan Stanley cut their target price on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Friday. UBS Group cut their price objective on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday. Evercore ISI cut their price target on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of "Hold" and a consensus price target of $22.58.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded down $0.38 during trading hours on Tuesday, reaching $19.01. 14,792,585 shares of the company's stock were exchanged, compared to its average volume of 6,027,978. The business has a fifty day moving average of $21.96 and a two-hundred day moving average of $24.43. The company has a market capitalization of $9.07 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.11. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a 1 year low of $18.82 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share 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 during the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the business earned $0.61 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.37%. Conagra Brands's dividend payout ratio is presently 58.58%.

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.