J.W. Cole Advisors Inc. Buys New Shares in Conagra Brands, Inc. (NYSE:CAG)

J.W. Cole Advisors Inc. bought a new stake in Conagra Brands, Inc. (NYSE:CAGGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 163,979 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC lifted its stake in shares of Conagra Brands by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 64,343 shares of the company’s stock valued at $2,160,000 after buying an additional 693 shares during the period. Alphastar Capital Management LLC lifted its stake in Conagra Brands by 4.6% during the first quarter. Alphastar Capital Management LLC now owns 14,486 shares of the company’s stock worth $486,000 after purchasing an additional 643 shares during the period. Benjamin Edwards Inc. lifted its stake in Conagra Brands by 146.4% during the first quarter. Benjamin Edwards Inc. now owns 1,690 shares of the company’s stock worth $57,000 after purchasing an additional 1,004 shares during the period. Stonnington Group LLC lifted its stake in Conagra Brands by 25.0% during the first quarter. Stonnington Group LLC now owns 15,000 shares of the company’s stock worth $525,000 after purchasing an additional 3,000 shares during the period. Finally, Miracle Mile Advisors LLC lifted its stake in Conagra Brands by 456.0% during the first quarter. Miracle Mile Advisors LLC now owns 37,494 shares of the company’s stock worth $1,259,000 after purchasing an additional 30,750 shares during the period. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $34.76 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31. The firm has a market cap of $16.69 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.01 and a beta of 0.57. The firm has a 50 day simple moving average of $34.33 and a 200 day simple moving average of $33.92. Conagra Brands, Inc. has a fifty-two week low of $30.06 and a fifty-two week high of $36.97.

Conagra Brands (NYSE:CAGGet Rating) last issued its quarterly earnings results on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 7.70% and a return on equity of 12.99%. Conagra Brands’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 earnings per share. Sell-side analysts predict that Conagra Brands, Inc. will post 2.41 earnings per share for the current fiscal year.

Conagra Brands Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Tuesday, August 2nd. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.31. Conagra Brands’s payout ratio 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.

Further Reading

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

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