New Age Alpha Advisors LLC Buys 15,693 Shares of Conagra Brands (NYSE:CAG)

Key Points

• New Age Alpha Advisors LLC has increased its position in Conagra Brands (NYSE:CAG) by 12%, owning a total of 146,263 shares valued at approximately $3.9 million.
• Conagra Brands reported Q1 earnings of $0.56 per share, missing analyst expectations, with revenue down by 4.3% compared to the previous year.
• The company announced a $0.35 quarterly dividend, reflecting an annualized yield of 7.5%, with a payout ratio of 58.58%.

New Age Alpha Advisors LLC boosted its stake in Conagra Brands (NYSE:CAG - Free Report) by 12.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,263 shares of the company's stock after purchasing an additional 15,693 shares during the period. New Age Alpha Advisors LLC's holdings in Conagra Brands were worth $3,901,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CAG. Alpine Bank Wealth Management bought a new stake in Conagra Brands in the 1st quarter worth approximately $26,000. Capital Advisors Ltd. LLC grew its position in Conagra Brands by 82.3% in the 1st 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 period. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Conagra Brands during the 1st quarter worth $27,000. Golden State Wealth Management LLC boosted its stake in shares of Conagra Brands by 235.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after acquiring an additional 741 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Conagra Brands during the 1st quarter worth $34,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of CAG remained flat at $19.25 during trading hours on Friday. 9,647,977 shares of the company were exchanged, compared to its average volume of 12,510,451. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.24. The company's 50-day simple moving average is $20.42 and its 200-day simple moving average is $23.41. The company has a market capitalization of $9.21 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.84 and a beta of 0.08.

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). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The firm had revenue of $2,781,800 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter last year, the firm posted $0.61 EPS. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Wednesday, July 30th. Conagra Brands's payout ratio is currently 58.58%.

Wall Street Analyst Weigh In

CAG has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target on shares of 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. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. UBS Group dropped their price target on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Finally, Evercore ISI dropped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Conagra Brands has an average rating of "Hold" and an average price target of $22.58.

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.