Crossmark Global Holdings Inc. increased its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 44.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 106,203 shares of the company's stock after purchasing an additional 32,525 shares during the period. Crossmark Global Holdings Inc.'s holdings in Conagra Brands were worth $2,832,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in shares of Conagra Brands during the 1st quarter worth about $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 valued at $27,000 after acquiring 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 valued at $28,000 after acquiring an additional 741 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Conagra Brands in the 1st quarter valued at approximately $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 valued at $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 Ratings Changes
CAG has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Barclays cut their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Bank of America cut Conagra Brands from a "neutral" rating to an "underperform" rating and cut their price target for the company from $27.00 to $20.00 in a report on Thursday, June 12th. The Goldman Sachs Group cut Conagra Brands from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $26.00 to $21.00 in a report on Monday, June 9th. Finally, Stifel Nicolaus dropped their target price on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $22.73.
Check Out Our Latest Stock Analysis on CAG
Conagra Brands Price Performance
Shares of CAG traded down $0.10 during mid-day trading on Friday, reaching $19.39. The company had a trading volume of 20,158,823 shares, compared to its average volume of 5,963,454. Conagra Brands has a twelve month low of $18.82 and a twelve month high of $33.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.23. The company's 50-day moving average is $21.96 and its 200-day moving average is $24.47. The company has a market capitalization of $9.26 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.84 and a beta of 0.11.
Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly 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 business had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The firm's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. On average, equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.
Conagra Brands Announces Dividend
The firm 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 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 yield of 7.22%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.
About Conagra Brands
(
Free Report)
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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