Trajan Wealth LLC Boosts Holdings in Conagra Brands, Inc. (NYSE:CAG)

Trajan Wealth LLC lifted its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,947 shares of the company's stock after buying an additional 16,069 shares during the period. Trajan Wealth LLC's holdings in Conagra Brands were worth $4,494,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brookstone Capital Management boosted its stake in shares of Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after purchasing an additional 62,187 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after purchasing an additional 22,790 shares during the last quarter. Nordea Investment Management AB grew its holdings in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after acquiring an additional 618,096 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Conagra Brands by 13.2% during the 4th quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock valued at $3,756,000 after purchasing an additional 15,834 shares during the period. Finally, Machina Capital S.A.S. bought a new position in Conagra Brands during the 4th quarter valued at approximately $558,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Conagra Brands stock traded down $0.27 during midday trading on Wednesday, hitting $25.22. The stock had a trading volume of 4,534,611 shares, compared to its average volume of 5,125,332. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a market capitalization of $12.04 billion, a PE ratio of 24.72, a P/E/G ratio of 1.76 and a beta of 0.27. The firm's fifty day moving average is $25.79 and its two-hundred day moving average is $26.85.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.69 EPS. On average, research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio is presently 205.88%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays upped their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Morgan Stanley initiated coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Wells Fargo & Company cut their target price on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of "Hold" and a consensus target price 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.