Gradient Investments LLC Buys 560 Shares of Conagra Brands, Inc. (NYSE:CAG)

Gradient Investments LLC grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAGGet Rating) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,626 shares of the company’s stock after acquiring an additional 560 shares during the period. Gradient Investments LLC’s holdings in Conagra Brands were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Conagra Brands by 1.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,980 shares of the company’s stock worth $1,006,000 after buying an additional 292 shares in the last quarter. Resources Investment Advisors LLC. increased its position in Conagra Brands by 0.4% in the first quarter. Resources Investment Advisors LLC. now owns 74,085 shares of the company’s stock worth $2,487,000 after buying an additional 305 shares in the last quarter. Lindbrook Capital LLC increased its position in Conagra Brands by 41.3% in the first quarter. Lindbrook Capital LLC now owns 1,198 shares of the company’s stock worth $40,000 after buying an additional 350 shares in the last quarter. Equitable Holdings Inc. increased its position in Conagra Brands by 0.5% in the first quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock worth $2,722,000 after buying an additional 373 shares in the last quarter. Finally, Clearstead Advisors LLC increased its position in Conagra Brands by 60.1% in the first quarter. Clearstead Advisors LLC now owns 996 shares of the company’s stock worth $33,000 after buying an additional 374 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup reduced their price target on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. UBS Group increased their target price on Conagra Brands from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, July 8th. Deutsche Bank Aktiengesellschaft cut their target price on Conagra Brands from $35.00 to $32.00 in a research report on Friday, July 15th. Credit Suisse Group cut their target price on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. Finally, Morgan Stanley cut their target price on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $35.67.

Insider Activity

In related news, Director Emanuel Chirico acquired 30,000 shares of the stock in a transaction dated Monday, July 25th. The stock was acquired at an average cost of $34.06 per share, with a total value of $1,021,800.00. Following the purchase, the director now directly owns 40,788 shares of the company’s stock, valued at $1,389,239.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Thomas M. Mcgough sold 21,405 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total value of $757,737.00. Following the completion of the sale, the chief operating officer now directly owns 104,859 shares of the company’s stock, valued at approximately $3,712,008.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emanuel Chirico acquired 30,000 shares of the stock in a transaction dated Monday, July 25th. The stock was bought at an average cost of $34.06 per share, with a total value of $1,021,800.00. Following the completion of the purchase, the director now directly owns 40,788 shares in the company, valued at $1,389,239.28. The disclosure for this purchase can be found here. Corporate insiders own 0.98% of the company’s stock.

Conagra Brands Stock Performance

NYSE CAG opened at $33.83 on Friday. The stock has a market capitalization of $16.24 billion, a PE ratio of 18.39, a P/E/G ratio of 1.98 and a beta of 0.57. The business has a 50 day simple moving average of $34.38 and a two-hundred day simple moving average of $33.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31. Conagra Brands, Inc. has a 1-year low of $30.06 and a 1-year high of $36.97.

Conagra Brands (NYSE:CAGGet Rating) last released its quarterly earnings results on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. On average, research analysts predict that Conagra Brands, Inc. will post 2.41 EPS for the current fiscal year.

Conagra Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 3rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Tuesday, August 2nd. This is a boost from Conagra Brands’s previous quarterly dividend of $0.31. Conagra Brands’s dividend payout ratio (DPR) is currently 71.74%.

About Conagra Brands

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

See Also

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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