Valley Wealth Managers Inc. Purchases 75,978 Shares of Conagra Brands (NYSE:CAG)

Key Points

• Valley Wealth Managers Inc. increased its stake in Conagra Brands by 13.5%, acquiring an additional 75,978 shares, bringing its total holdings to 640,564 shares valued at approximately $17.1 million.
• Conagra Brands reported a net income miss, with earnings per share of $0.56, falling short of the analyst expectations of $0.61 for the latest quarter.
• The company announced a quarterly dividend of $0.35 per share, reflecting a 7.29% dividend yield, set to be distributed on August 28th to shareholders of record by July 30th.

Valley Wealth Managers Inc. lifted its position in Conagra Brands (NYSE:CAG - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 640,564 shares of the company's stock after buying an additional 75,978 shares during the period. Valley Wealth Managers Inc. owned about 0.13% of Conagra Brands worth $17,084,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAG. TD Asset Management Inc raised its holdings in Conagra Brands by 13.1% in the 1st quarter. TD Asset Management Inc now owns 221,878 shares of the company's stock worth $5,917,000 after acquiring an additional 25,766 shares during the last quarter. Equitable Trust Co. boosted its stake in Conagra Brands by 1.8% during the 1st quarter. Equitable Trust Co. now owns 29,927 shares of the company's stock valued at $798,000 after purchasing an additional 536 shares during the last quarter. AE Wealth Management LLC increased its holdings in shares of Conagra Brands by 6.6% in the 1st quarter. AE Wealth Management LLC now owns 468,573 shares of the company's stock worth $12,497,000 after purchasing an additional 28,995 shares in the last quarter. Triumph Capital Management raised its stake in shares of Conagra Brands by 3.9% in the first quarter. Triumph Capital Management now owns 34,148 shares of the company's stock worth $911,000 after purchasing an additional 1,266 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its stake in shares of Conagra Brands by 3.2% in the first quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company's stock worth $388,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Down 0.4%

Shares of CAG stock opened at $19.22 on Friday. 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 has a 12 month low of $18.67 and a 12 month high of $33.24. The stock has a market cap of $9.17 billion, a P/E ratio of 8.04, a P/E/G ratio of 1.84 and a beta of 0.11. The company has a 50 day simple moving average of $21.18 and a two-hundred day simple moving average of $23.90.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) 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 business had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm earned $0.61 EPS. The company's revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

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 given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date is Wednesday, July 30th. Conagra Brands's payout ratio is 58.58%.

Analyst Ratings Changes

Several research firms recently commented on CAG. Wells Fargo & Company dropped their price objective 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. UBS Group lowered their target price 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. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Evercore ISI lowered their price objective on shares of Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research report on Friday, July 11th. Finally, Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the stock a "market perform" rating in a report 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.

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