Raymond James Financial Inc. Invests $16.59 Million in Conagra Brands, Inc. (NYSE:CAG)

Raymond James Financial Inc. bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 597,723 shares of the company's stock, valued at approximately $16,588,000. Raymond James Financial Inc. owned approximately 0.13% of Conagra Brands at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust grew its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after buying an additional 447 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Conagra Brands by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after acquiring an additional 501 shares during the period. Xponance Inc. boosted its position in shares of Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after acquiring an additional 505 shares during the last quarter. International Private Wealth Advisors LLC grew its holdings in shares of Conagra Brands by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company's stock valued at $295,000 after purchasing an additional 527 shares during the period. Finally, ST Germain D J Co. Inc. increased its position in Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock worth $55,000 after purchasing an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Down 2.0 %

Shares of CAG traded down $0.50 during mid-day trading on Friday, hitting $24.42. 2,214,277 shares of the company's stock were exchanged, compared to its average volume of 5,104,207. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.76 and a beta of 0.27. The stock's 50-day moving average is $25.78 and its 200-day moving average is $26.82. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.73%. Conagra Brands's payout ratio is 205.88%.

Analysts Set New Price Targets

CAG has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Barclays increased their price objective on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Morgan Stanley began coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price on the stock. The Goldman Sachs Group downgraded Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued 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 $27.90.

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.