Kennondale Capital Management LLC Has $1.87 Million Stock Holdings in Conagra Brands (NYSE:CAG)

Kennondale Capital Management LLC grew its position in Conagra Brands (NYSE:CAG - Free Report) by 488.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,222 shares of the company's stock after purchasing an additional 58,280 shares during the quarter. Conagra Brands makes up approximately 2.0% of Kennondale Capital Management LLC's portfolio, making the stock its 16th largest holding. Kennondale Capital Management LLC's holdings in Conagra Brands were worth $1,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Conagra Brands in the first quarter worth $26,000. Capital Advisors Ltd. LLC grew its stake 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 worth $27,000 after acquiring an additional 452 shares during the last quarter. Golden State Wealth Management LLC grew 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 last quarter. Wayfinding Financial LLC acquired a new stake in shares of Conagra Brands in the first quarter worth $34,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Conagra Brands by 86.1% in the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after acquiring an additional 690 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

CAG traded down $0.09 during trading hours on Friday, reaching $19.22. The company's stock had a trading volume of 2,982,511 shares, compared to its average volume of 7,266,242. Conagra Brands has a 52 week low of $18.67 and a 52 week high of $33.24. The company's 50-day moving average is $21.26 and its 200-day moving average is $23.95. 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 firm has a market cap of $9.17 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 1.88 and a beta of 0.11.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly 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). The business 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 firm's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. On average, equities analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands's payout ratio is currently 58.58%.

Analysts Set New Price Targets

A number of research firms have weighed in on CAG. Bank of America downgraded shares of Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. Sanford C. Bernstein set a $21.00 price target on shares of Conagra Brands and gave the stock a "market perform" rating in a research note on Friday, July 11th. UBS Group decreased their price target on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Evercore ISI decreased 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 research note on Friday, July 11th. Finally, Royal Bank Of Canada decreased 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 research note on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.58.

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.