Sylvest Advisors LLC Invests $636,000 in Conagra Brands $CAG

Key Points

• Sylvest Advisors LLC invested $636,000 in Conagra Brands, acquiring 31,054 shares of the company's stock in the second quarter.
• Conagra Brands reported a missed EPS estimate of $0.56, falling short of the expected $0.61, alongside a quarterly revenue of $2.78 billion.
• The company recently declared a quarterly dividend of $0.35 per share, leading to an annualized dividend yield of 7.6%.

Sylvest Advisors LLC acquired a new stake in Conagra Brands (NYSE:CAG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 31,054 shares of the company's stock, valued at approximately $636,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. raised its stake in Conagra Brands by 3.2% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company's stock valued at $388,000 after acquiring an additional 450 shares during the period. Capital Advisors Ltd. LLC raised its stake in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after acquiring an additional 452 shares during the period. Hexagon Capital Partners LLC raised its stake in Conagra Brands by 33.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,009 shares of the company's stock valued at $54,000 after acquiring an additional 505 shares during the period. Capstone Triton Financial Group LLC raised its stake in Conagra Brands by 1.5% in the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock valued at $995,000 after acquiring an additional 535 shares during the period. Finally, Equitable Trust Co. raised its stake in Conagra Brands by 1.8% in the 1st quarter. Equitable Trust Co. now owns 29,927 shares of the company's stock valued at $798,000 after acquiring an additional 536 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Up 1.8%

Shares of CAG opened at $18.53 on Thursday. The firm has a market cap of $8.87 billion, a P/E ratio of 7.75, a P/E/G ratio of 1.74 and a beta of 0.07. The stock has a 50 day simple moving average of $19.06 and a two-hundred day simple moving average of $21.97. 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 1 year low of $18.12 and a 1 year high of $32.90.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its 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). The firm had revenue of $2.78 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 firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. On average, analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.6%. Conagra Brands's dividend payout ratio is currently 58.58%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAG. Morgan Stanley boosted their price objective on Conagra Brands from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday. Evercore ISI reduced their target price on Conagra Brands from $24.00 to $23.00 and set an "in-line" rating for the company in a report on Wednesday. JPMorgan Chase & Co. started coverage on Conagra Brands in a report on Wednesday, August 20th. They set a "neutral" rating and a $20.00 target price for the company. UBS Group reduced their target price on Conagra Brands from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and reduced their target price for the company from $26.00 to $21.00 in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Conagra Brands presently has a consensus rating of "Hold" and a consensus target price of $22.08.

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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