TD Asset Management Inc Purchases 25,766 Shares of Conagra Brands (NYSE:CAG)

Key Points

• TD Asset Management Inc increased its stake in Conagra Brands by 13.1%, amassing 221,878 shares valued at approximately $5.9 million following the acquisition of 25,766 additional shares in the first quarter.
• After recent quarterly earnings, Conagra Brands reported an EPS of $0.56, falling short of the expected $0.61, and saw a year-over-year revenue decline of 4.3%.
• The company's stock has received a consensus "Hold" rating from analysts, with target price estimates notably lowering to as low as $20.00 from some banks.

TD Asset Management Inc lifted its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,878 shares of the company's stock after purchasing an additional 25,766 shares during the quarter. TD Asset Management Inc's holdings in Conagra Brands were worth $5,917,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in Conagra Brands in the 1st quarter valued at approximately $26,000. Capital Advisors Ltd. LLC raised 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 valued at $27,000 after buying an additional 452 shares during the last quarter. Golden State Wealth Management LLC raised its position in Conagra Brands by 235.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock valued at $28,000 after buying an additional 741 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Conagra Brands in the 1st quarter valued at approximately $34,000. Finally, AdvisorNet Financial Inc raised its position in Conagra Brands by 86.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock valued at $40,000 after buying an additional 690 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of NYSE CAG traded up $0.26 during midday trading on Friday, hitting $18.52. 11,513,183 shares of the company's stock were exchanged, compared to its average volume of 13,281,132. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a 12 month low of $18.18 and a 12 month high of $33.24. The company's 50 day moving average price is $20.79 and its 200 day moving average price is $23.61. The firm has a market capitalization of $8.84 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 1.77 and a beta of 0.08.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 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 business had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The business's revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced 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. This represents a $1.40 annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Wednesday, July 30th. Conagra Brands's payout ratio is currently 58.58%.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the company a "market perform" rating in a research report on Friday, July 11th. Stifel Nicolaus dropped their target price on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. UBS Group dropped their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Finally, Barclays lowered their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.58.

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.