Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC grew its stake in shares of Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 14.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,746 shares of the company’s stock after acquiring an additional 1,379 shares during the quarter. Park Avenue Securities LLC’s holdings in Conagra Brands were worth $351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAG. Securian Asset Management Inc. raised its holdings in shares of Conagra Brands by 0.7% in the third quarter. Securian Asset Management Inc. now owns 39,071 shares of the company’s stock worth $1,275,000 after buying an additional 286 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Conagra Brands by 0.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,518 shares of the company’s stock worth $1,113,000 after acquiring an additional 292 shares during the last quarter. Fortitude Advisory Group L.L.C. lifted its position in Conagra Brands by 3.7% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 8,265 shares of the company’s stock worth $283,000 after acquiring an additional 298 shares during the period. Brookstone Capital Management grew its stake in Conagra Brands by 1.0% during the 3rd quarter. Brookstone Capital Management now owns 29,861 shares of the company’s stock valued at $1,003,000 after purchasing an additional 302 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Conagra Brands by 12.8% in the third quarter. Allworth Financial LP now owns 2,781 shares of the company’s stock valued at $91,000 after purchasing an additional 316 shares during the period. 81.08% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

NYSE:CAG opened at $37.98 on Monday. The stock has a market capitalization of $18.10 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. Conagra Brands, Inc. has a 52 week low of $30.06 and a 52 week high of $41.30. The company has a quick ratio of 0.29, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average price is $38.16 and its 200-day moving average price is $35.78.

Conagra Brands (NYSE:CAG – Get Rating) last posted its quarterly earnings data on Thursday, January 5th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. Conagra Brands had a return on equity of 14.38% and a net margin of 5.66%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.67 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 2nd. Investors of record on Monday, January 30th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, January 27th. This represents a $1.32 annualized dividend and a dividend yield of 3.48%. Conagra Brands’s dividend payout ratio (DPR) is presently 93.62%.

Insider Activity at Conagra Brands

In other Conagra Brands news, SVP Robert G. Wise sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $40.90, for a total transaction of $2,045,000.00. Following the completion of the sale, the senior vice president now directly owns 22,717 shares in the company, valued at approximately $929,125.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CAG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Conagra Brands from a “hold” rating to a “sell” rating and upped their target price for the company from $33.00 to $34.00 in a research report on Tuesday, December 6th. Royal Bank of Canada upped their price objective on shares of Conagra Brands from $35.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, January 6th. Exane BNP Paribas assumed coverage on shares of Conagra Brands in a report on Tuesday, November 15th. They set an “outperform” rating for the company. UBS Group upped their price target on shares of Conagra Brands from $41.00 to $45.00 and gave the company a “buy” rating in a report on Friday, January 6th. Finally, Stifel Nicolaus increased their price target on Conagra Brands from $35.00 to $44.00 in a research report on Friday, January 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.45.

Conagra Brands Company Profile

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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.