Revisor Wealth Management LLC Takes $397,000 Position in Conagra Brands $CAG

Key Points

• Revisor Wealth Management LLC has acquired a new position in Conagra Brands, purchasing 20,362 shares valued at approximately $397,000.
• Analysts have recently downgraded Conagra Brands, with Bank of America lowering its rating from "neutral" to "underperform" and reducing its price target from $27.00 to $20.00.
• Conagra Brands recently reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61, and its quarterly revenue decreased by 4.3% year-over-year.

Revisor Wealth Management LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,362 shares of the company's stock, valued at approximately $397,000.

A number of other hedge funds have also recently made changes to their positions in CAG. Alpine Bank Wealth Management acquired a new stake in shares of Conagra Brands during the first quarter valued at about $26,000. Capital Advisors Ltd. LLC raised its position in shares of Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after acquiring an additional 452 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Conagra Brands during the first quarter worth about $27,000. Golden State Wealth Management LLC raised its position in shares of Conagra Brands by 235.2% during the first 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 bought a new position in shares of Conagra Brands during the first quarter worth about $34,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAG has been the subject of a number of analyst reports. Bank of America downgraded Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Evercore ISI lowered their target price on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a report on Friday, July 11th. Stifel Nicolaus lowered their target price on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a report on Friday, July 11th. UBS Group lowered their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Finally, Royal Bank Of Canada lowered their target price on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Conagra Brands has a consensus rating of "Hold" and a consensus price target of $22.17.

Conagra Brands Trading Down 0.8%

Shares of Conagra Brands stock opened at $18.18 on Wednesday. The stock has a fifty day simple moving average of $19.07 and a 200 day simple moving average of $21.99. Conagra Brands has a 12-month low of $18.12 and a 12-month high of $32.90. The company has a market capitalization of $8.70 billion, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 1.75 and a beta of 0.07. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (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 company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the company posted $0.61 EPS. The company's quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.7%. Conagra Brands's dividend payout ratio (DPR) is presently 58.58%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.