Principle Wealth Partners LLC Takes Position in Conagra Brands, Inc. (NYSE:CAG)

Principle Wealth Partners LLC purchased a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,600 shares of the company's stock, valued at approximately $294,000.

Several other hedge funds have also modified their holdings of the company. Courier Capital LLC raised its holdings in shares of Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company's stock worth $880,000 after acquiring an additional 355 shares in the last quarter. Empirical Finance LLC grew its position in Conagra Brands by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company's stock valued at $533,000 after acquiring an additional 362 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company's stock worth $1,716,000 after buying an additional 376 shares during the period. Bridgewater Advisors Inc. lifted its holdings in shares of Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company's stock worth $820,000 after buying an additional 376 shares during the period. Finally, Grove Bank & Trust lifted its holdings in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Citigroup dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. Finally, Barclays decreased their target price on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $30.33.

Conagra Brands Trading Up 1.3 %

Conagra Brands stock traded up $0.33 during trading on Friday, reaching $25.31. 6,372,535 shares of the company were exchanged, compared to its average volume of 5,260,751. The stock's 50 day simple moving average is $26.46 and its two-hundred day simple moving average is $28.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $12.08 billion, a P/E ratio of 24.81, a PEG ratio of 1.70 and a beta of 0.28. Conagra Brands, Inc. has a 52-week low of $24.18 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The firm's quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts expect that Conagra Brands, Inc. will post 2.46 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, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.53%. Conagra Brands's payout ratio is presently 137.26%.

About Conagra Brands

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.