IFP Advisors Inc Purchases 33,087 Shares of Conagra Brands (NYSE:CAG)

IFP Advisors Inc grew its holdings in Conagra Brands (NYSE:CAG - Free Report) by 32.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,790 shares of the company's stock after purchasing an additional 33,087 shares during the period. IFP Advisors Inc's holdings in Conagra Brands were worth $3,624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Conagra Brands by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock valued at $1,631,671,000 after purchasing an additional 1,132,839 shares during the last quarter. Geode Capital Management LLC grew its position in Conagra Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after buying an additional 231,477 shares in the last quarter. Invesco Ltd. grew its position in Conagra Brands by 18.5% during the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after buying an additional 1,745,319 shares in the last quarter. Two Sigma Advisers LP grew its position in Conagra Brands by 33.9% during the fourth quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after buying an additional 2,058,000 shares in the last quarter. Finally, Norges Bank acquired a new stake in Conagra Brands during the fourth quarter worth about $168,877,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CAG shares. Morgan Stanley decreased their price objective on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. UBS Group dropped their target price on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Finally, Wells Fargo & Company dropped their target price on shares of 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $22.58.

Conagra Brands Stock Performance

Conagra Brands stock traded down $0.15 during trading hours on Thursday, hitting $19.49. The company had a trading volume of 3,727,099 shares, compared to its average volume of 7,251,981. The firm has a market cap of $9.30 billion, a PE ratio of 8.14, a PEG ratio of 1.85 and a beta of 0.11. 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 firm has a 50-day moving average of $21.38 and a 200 day moving average of $24.04.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The business had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be issued 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 dividend yield of 7.19%. Conagra Brands's dividend payout ratio (DPR) is presently 58.58%.

Conagra Brands Company 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.