Wealth Enhancement Advisory Services LLC Increases Position in Conagra Brands $CAG

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Conagra Brands by 13.8%, now owning over $4.95 million worth of shares after acquiring additional stock.
• Analysts have lowered their price targets for Conagra Brands, with reports indicating targets ranging from $19.00 to $22.00, amid a general consensus rating of "Hold."
• The company recently reported earnings per share (EPS) of $0.56, falling short of expectations, alongside a 7.6% annual dividend yield declared in its latest quarterly payout.

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,051 shares of the company's stock after buying an additional 28,634 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Conagra Brands were worth $4,955,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Wedmont Private Capital purchased a new stake in shares of Conagra Brands in the second quarter valued at approximately $271,000. Swedbank AB boosted its holdings in shares of Conagra Brands by 23.6% in the second quarter. Swedbank AB now owns 1,034,087 shares of the company's stock valued at $21,168,000 after purchasing an additional 197,180 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Conagra Brands by 5.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,625 shares of the company's stock valued at $1,118,000 after purchasing an additional 2,779 shares during the period. Gilman Hill Asset Management LLC boosted its holdings in shares of Conagra Brands by 5.6% in the second quarter. Gilman Hill Asset Management LLC now owns 376,956 shares of the company's stock valued at $7,716,000 after purchasing an additional 20,037 shares during the period. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of Conagra Brands in the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein set a $21.00 price target on Conagra Brands and gave the company a "market perform" rating in a report on Friday, July 11th. Royal Bank Of Canada lowered their price target 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. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. 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. Finally, UBS Group reduced their price target on Conagra Brands from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $22.08.

Conagra Brands Trading Up 1.8%

CAG stock opened at $18.53 on Thursday. The company's 50-day simple moving average is $19.06 and its 200-day simple moving average is $21.97. 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 52-week low of $18.12 and a 52-week high of $32.90. The firm has a market cap of $8.87 billion, a P/E ratio of 7.75, a PEG ratio of 1.74 and a beta of 0.07.

Conagra Brands (NYSE:CAG - Get Free Report) last posted 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). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The firm had revenue of $2.78 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The company's revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors 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 dividend on an annualized basis and a yield of 7.6%. Conagra Brands's dividend payout ratio (DPR) is currently 58.58%.

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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