Sequoia Financial Advisors LLC Invests $508,000 in Conagra Brands, Inc. (NYSE:CAG)

Sequoia Financial Advisors LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 17,739 shares of the company’s stock, valued at approximately $508,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Conagra Brands by 1.5% during the first quarter. Vanguard Group Inc. now owns 54,738,710 shares of the company’s stock worth $1,837,578,000 after buying an additional 786,816 shares in the last quarter. State Street Corp grew its holdings in shares of Conagra Brands by 12.8% during the first quarter. State Street Corp now owns 23,556,766 shares of the company’s stock worth $790,801,000 after buying an additional 2,671,720 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Conagra Brands by 14.0% during the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after buying an additional 1,737,380 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Conagra Brands by 1.7% during the first quarter. Geode Capital Management LLC now owns 9,849,556 shares of the company’s stock worth $369,112,000 after buying an additional 167,385 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Conagra Brands by 37.1% during the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after buying an additional 2,619,372 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAG. Royal Bank of Canada decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, January 3rd. Citigroup raised their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company raised their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Stifel Nicolaus raised their price target on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Finally, Barclays raised their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.14.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $30.00 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $38.73. The stock has a 50 day moving average of $28.68 and a 200-day moving average of $28.46. The company has a market capitalization of $14.34 billion, a P/E ratio of 15.08, a P/E/G ratio of 2.94 and a beta of 0.41.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.67%. Conagra Brands’s payout ratio is currently 70.35%.

Conagra Brands Company 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.