Impact Partnership Wealth LLC Buys New Holdings in Conagra Brands, Inc. (NYSE:CAG)

Impact Partnership Wealth LLC bought a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,946 shares of the company's stock, valued at approximately $551,000.

A number of other large investors have also recently made changes to their positions in CAG. Park Avenue Securities LLC lifted its position in Conagra Brands by 17.7% during the 1st quarter. Park Avenue Securities LLC now owns 11,903 shares of the company's stock worth $353,000 after acquiring an additional 1,794 shares during the period. Brookstone Capital Management lifted its position in Conagra Brands by 912.4% during the 1st quarter. Brookstone Capital Management now owns 339,927 shares of the company's stock worth $10,075,000 after acquiring an additional 306,349 shares during the period. Sunbelt Securities Inc. lifted its position in Conagra Brands by 911.1% during the 1st quarter. Sunbelt Securities Inc. now owns 2,639 shares of the company's stock worth $78,000 after acquiring an additional 2,378 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Conagra Brands by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 39,525 shares of the company's stock worth $1,172,000 after acquiring an additional 3,638 shares during the period. Finally, AMF Tjanstepension AB acquired a new stake in Conagra Brands during the 1st quarter worth approximately $47,980,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI decreased their price objective on Conagra Brands from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, July 12th. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They set a "buy" rating and a $36.00 price objective for the company. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Citigroup reduced their price target on Conagra Brands from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of "Hold" and an average target price of $31.63.

Conagra Brands Price Performance

NYSE CAG traded down $0.10 during mid-day trading on Thursday, hitting $29.35. The stock had a trading volume of 2,695,098 shares, compared to its average volume of 4,755,315. Conagra Brands, Inc. has a 52-week low of $26.62 and a 52-week high of $33.24. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 40.35, a P/E/G ratio of 3.01 and a beta of 0.32. The company has a 50 day simple moving average of $31.10 and a 200 day simple moving average of $30.28. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. Equities analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.77%. The ex-dividend date is Thursday, October 31st. Conagra Brands's payout ratio is 191.78%.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company's stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

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.