Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Hennion & Walsh Asset Management Inc. lifted its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 104.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,504 shares of the company's stock after buying an additional 13,000 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Conagra Brands were worth $680,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in shares of Conagra Brands by 104.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock valued at $49,776,000 after buying an additional 914,820 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Conagra Brands by 41.0% in the 4th quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock valued at $2,175,000 after acquiring an additional 22,790 shares during the last quarter. Machina Capital S.A.S. bought a new stake in Conagra Brands in the 4th quarter valued at $558,000. Proficio Capital Partners LLC bought a new stake in Conagra Brands in the 4th quarter valued at $2,035,000. Finally, Inspire Advisors LLC increased its holdings in Conagra Brands by 18.4% in the 4th quarter. Inspire Advisors LLC now owns 63,249 shares of the company's stock valued at $1,755,000 after acquiring an additional 9,838 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

CAG has been the topic of a number of research reports. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, June 2nd. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price target for the company from $33.00 to $26.00 in a report on Monday, February 24th. Morgan Stanley initiated coverage on shares of Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $27.10.

Conagra Brands Stock Performance

Conagra Brands stock opened at $22.37 on Friday. The company's 50-day moving average price is $24.05 and its 200-day moving average price is $25.57. Conagra Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market cap of $10.68 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.76 and a beta of 0.14.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 6.26%. Conagra Brands's payout ratio is 205.88%.

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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