Conagra Brands (NYSE:CAG) Shares Purchased by Inspire Advisors LLC

Key Points

• Inspire Advisors LLC increased its holdings in Conagra Brands by 55.1%, owning 98,102 shares, valued at approximately $2.6 million at the end of the most recent quarter.
• Conagra Brands reported $0.56 EPS in its latest earnings, missing analysts' expectations of $0.61, while its quarterly revenue was down 4.3% from the previous year.
• The company declared a quarterly dividend of $0.35 per share, representing an annualized dividend yield of 7.29%, with a payout ratio of 58.58%.

Inspire Advisors LLC raised its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 55.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,102 shares of the company's stock after purchasing an additional 34,853 shares during the quarter. Inspire Advisors LLC's holdings in Conagra Brands were worth $2,616,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CAG. Alpine Bank Wealth Management acquired a new position in shares of Conagra Brands in the 1st quarter worth approximately $26,000. Capital Advisors Ltd. LLC grew its position 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 worth $27,000 after acquiring an additional 452 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of 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 acquiring an additional 741 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Conagra Brands in the 1st quarter worth approximately $34,000. Finally, AdvisorNet Financial Inc grew its position 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 acquiring an additional 690 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAG. Stifel Nicolaus decreased their target price 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. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Wells Fargo & Company reduced 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, Evercore ISI reduced 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.58.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $19.22 on Friday. The business's 50-day moving average price is $21.18 and its two-hundred day moving average price is $23.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. Conagra Brands has a one year low of $18.67 and a one year high of $33.24. The company has a market capitalization of $9.17 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 1.84 and a beta of 0.11.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. Analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.29%. Conagra Brands's dividend payout ratio (DPR) 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.

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