HighPoint Advisor Group LLC Makes New Investment in Conagra Brands (NYSE:CAG)

HighPoint Advisor Group LLC acquired a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,332 shares of the company's stock, valued at approximately $324,000.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in Conagra Brands by 0.6% during the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock valued at $2,166,000 after purchasing an additional 429 shares during the period. Capital Advisors Ltd. LLC increased its holdings 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 valued at $27,000 after buying an additional 452 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its position in shares of Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock valued at $1,030,000 after purchasing an additional 500 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Conagra Brands by 33.6% in the first quarter. Hexagon Capital Partners LLC now owns 2,009 shares of the company's stock worth $54,000 after buying an additional 505 shares during the period. Finally, Capstone Triton Financial Group LLC grew its position in Conagra Brands by 1.5% during the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock worth $995,000 after purchasing an additional 535 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Conagra Brands stock traded down $0.09 during mid-day trading on Friday, reaching $19.22. The company had a trading volume of 8,407,872 shares, compared to its average volume of 11,661,483. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 1.84 and a beta of 0.11. The company has a 50 day moving average of $21.18 and a 200-day moving average of $23.88. Conagra Brands has a 52 week low of $18.67 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results 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). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The company had revenue of $2,781,800 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The firm's quarterly revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders 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 dividend on an annualized basis and a yield of 7.29%. Conagra Brands's dividend payout ratio is currently 58.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "neutral" rating to a "sell" rating and cut their target price for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the company a "market perform" rating in a research note on Friday, July 11th. Evercore ISI lowered their target price on 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, Barclays cut their price target on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.