Wedmont Private Capital acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 27,049 shares of the company's stock, valued at approximately $702,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brookstone Capital Management raised its position in Conagra Brands by 18.4% in the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock worth $11,085,000 after purchasing an additional 62,187 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company's stock worth $1,196,000 after buying an additional 19,329 shares during the period. Nordea Investment Management AB increased its holdings in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after buying an additional 618,096 shares during the period. Aigen Investment Management LP bought a new stake in shares of Conagra Brands in the 3rd quarter valued at about $1,020,000. Finally, Pacer Advisors Inc. boosted its holdings in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.
Conagra Brands Trading Down 1.8 %
Shares of CAG traded down $0.47 during trading hours on Wednesday, reaching $25.58. 4,659,402 shares of the company traded hands, compared to its average volume of 4,997,833. Conagra Brands, Inc. has a 12 month low of $25.43 and a 12 month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The company's fifty day moving average price is $27.42 and its two-hundred day moving average price is $29.31. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29.
Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $0.71 earnings per share. Conagra Brands's quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts predict that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.
Conagra Brands Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.47%. Conagra Brands's dividend payout ratio is presently 137.25%.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Citigroup decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Barclays decreased their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Finally, BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands has an average rating of "Hold" and a consensus price target of $30.56.
View Our Latest Analysis on CAG
About Conagra Brands
(
Free Report)
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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