Impact Partnership Wealth LLC purchased a new stake in Conagra Brands (NYSE:CAG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,860 shares of the company's stock, valued at approximately $396,000.
Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in Conagra Brands during the 1st quarter worth about $26,000. Capital Advisors Ltd. LLC raised 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 purchasing an additional 452 shares during the last quarter. Golden State Wealth Management LLC raised 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 purchasing an additional 741 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Conagra Brands in the first quarter valued at approximately $34,000. Finally, AdvisorNet Financial Inc grew its holdings 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 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.
Conagra Brands Price Performance
Shares of NYSE CAG traded up $0.65 during mid-day trading on Tuesday, hitting $19.40. 7,827,731 shares of the company's stock traded hands, compared to its average volume of 6,152,995. The company's 50-day moving average is $21.54 and its two-hundred day moving average is $24.13. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. The company has a market capitalization of $9.26 billion, a P/E ratio of 8.12, a PEG ratio of 1.82 and a beta of 0.11. Conagra Brands has a 1 year low of $18.67 and a 1 year 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 analysts' consensus estimates of $0.61 by ($0.05). The business had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.
Conagra Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.22%. Conagra Brands's payout ratio is currently 58.58%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on CAG shares. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $27.00 to $20.00 in a report on Thursday, June 12th. The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. Morgan Stanley lowered their price target on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. Evercore ISI lowered their price target on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research report on Friday, July 11th. Finally, Royal Bank Of Canada reduced their price objective on 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. Based on data from MarketBeat, Conagra Brands currently has an average rating of "Hold" and an average price target of $22.58.
Read Our Latest Stock Analysis on CAG
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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