Sowell Financial Services LLC Takes $633,000 Position in Conagra Brands (NYSE:CAG)

Sowell Financial Services LLC acquired a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,750 shares of the company's stock, valued at approximately $633,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of Conagra Brands by 104.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock valued at $49,776,000 after acquiring an additional 914,820 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Conagra Brands during the 4th quarter valued at $558,000. Proficio Capital Partners LLC acquired a new position in shares of Conagra Brands during the 4th quarter valued at $2,035,000. Inspire Advisors LLC lifted its holdings in shares of Conagra Brands by 18.4% during the 4th quarter. Inspire Advisors LLC now owns 63,249 shares of the company's stock valued at $1,755,000 after acquiring an additional 9,838 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Conagra Brands during the 4th quarter valued at $5,034,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, June 2nd. The Goldman Sachs Group lowered shares of Conagra Brands from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $26.00 to $21.00 in a report on Monday, June 9th. UBS Group assumed coverage on shares of Conagra Brands in a report on Monday. They issued a "neutral" rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, Bank of America lowered shares of Conagra Brands from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.36.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $21.49 on Friday. The firm has a market cap of $10.26 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 1.58 and a beta of 0.14. The firm's 50-day simple moving average is $23.34 and its 200-day simple moving average is $25.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. Conagra Brands has a 1 year low of $21.18 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. Equities analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.52%. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

About Conagra Brands

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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