Kingsview Wealth Management LLC Grows Position in Conagra Brands (NYSE:CAG)

Kingsview Wealth Management LLC grew its stake in Conagra Brands (NYSE:CAG - Free Report) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,101 shares of the company's stock after buying an additional 22,188 shares during the period. Kingsview Wealth Management LLC owned approximately 0.08% of Conagra Brands worth $9,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAG. Alpine Bank Wealth Management bought a new stake in Conagra Brands during the 1st quarter valued at $26,000. Capital Advisors Ltd. LLC raised its holdings in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Conagra Brands by 235.2% in 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 in the last quarter. Wayfinding Financial LLC bought a new position in Conagra Brands in the 1st quarter worth $34,000. Finally, AdvisorNet Financial Inc raised its holdings in 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 purchasing an additional 690 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAG. The Goldman Sachs Group downgraded shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their price target for the company from $26.00 to $21.00 in a report on Monday, June 9th. Royal Bank Of Canada dropped their price target 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, July 11th. Evercore ISI dropped 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, July 11th. UBS Group dropped their price objective on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Finally, Bank of America downgraded shares of Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Conagra Brands presently has an average rating of "Hold" and a consensus price target of $22.58.

Conagra Brands Trading Up 0.5%

NYSE CAG traded up $0.09 on Friday, hitting $19.06. 9,686,943 shares of the stock were exchanged, compared to its average volume of 6,113,074. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The stock has a fifty day moving average price of $21.54 and a two-hundred day moving average price of $24.13. The firm has a market capitalization of $9.10 billion, a P/E ratio of 7.97, a P/E/G ratio of 1.82 and a beta of 0.11. Conagra Brands has a 52-week low of $18.80 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 for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion during the quarter, compared to the consensus estimate of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

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 issued a $0.35 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.35%. Conagra Brands's dividend payout ratio is presently 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.