Conagra Brands $CAG is KLCM Advisors Inc.'s 6th Largest Position

Key Points

• KLCM Advisors Inc. significantly increased its stake in Conagra Brands by 826.1% in Q1, making it the 6th largest position for the firm, with a total of 805,971 shares valued at approximately $21.5 million.
• The company reported a $0.56 EPS for the last quarter, missing estimates, alongside a year-over-year revenue decline of 4.3%.
• Conagra Brands announced a quarterly dividend of $0.35 per share, representing a 7.2% yield, to be paid on August 28th.

KLCM Advisors Inc. lifted its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 826.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 805,971 shares of the company's stock after acquiring an additional 718,946 shares during the period. Conagra Brands accounts for approximately 2.5% of KLCM Advisors Inc.'s portfolio, making the stock its 6th biggest position. KLCM Advisors Inc. owned about 0.17% of Conagra Brands worth $21,495,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Inspire Trust Co. N.A. raised its holdings in shares of Conagra Brands by 4.4% during the 1st quarter. Inspire Trust Co. N.A. now owns 118,000 shares of the company's stock worth $3,147,000 after acquiring an additional 5,000 shares during the period. National Pension Service increased its position in shares of Conagra Brands by 0.3% during the 1st quarter. National Pension Service now owns 275,850 shares of the company's stock worth $7,357,000 after purchasing an additional 754 shares during the last quarter. Resona Asset Management Co. Ltd. increased its position in shares of Conagra Brands by 9.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 174,382 shares of the company's stock worth $4,648,000 after purchasing an additional 14,676 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Conagra Brands by 44.3% during the 1st quarter. HighTower Advisors LLC now owns 153,056 shares of the company's stock worth $4,082,000 after purchasing an additional 46,979 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Conagra Brands by 8.4% during the 1st quarter. Public Sector Pension Investment Board now owns 64,687 shares of the company's stock worth $1,725,000 after purchasing an additional 5,015 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAG. Stifel Nicolaus cut their price objective on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Sanford C. Bernstein set a $21.00 price objective on Conagra Brands and gave the stock a "market perform" rating in a research report on Friday, July 11th. Evercore ISI cut their price objective on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a research report on Friday, July 11th. Wells Fargo & Company cut their price objective on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada cut their price objective on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.58.

Conagra Brands Trading Up 1.7%

NYSE CAG traded up $0.3150 during trading on Tuesday, hitting $19.2950. The stock had a trading volume of 3,015,881 shares, compared to its average volume of 7,680,411. Conagra Brands has a twelve month low of $18.18 and a twelve month high of $33.24. The company has a market capitalization of $9.24 billion, a PE ratio of 8.08, a PEG ratio of 1.84 and a beta of 0.08. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $20.04 and a 200 day moving average price of $23.10.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.56 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 company had revenue of $2,781,800 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. Conagra Brands's payout ratio is currently 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.