Conagra Brands (NYSE:CAG) Shares Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its stake in Conagra Brands (NYSE:CAG) by 42.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,821 shares of the company’s stock after purchasing an additional 3,207 shares during the period. OneDigital Investment Advisors LLC’s holdings in Conagra Brands were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Conagra Brands during the 4th quarter worth approximately $2,035,000. Raymond James Financial Inc. purchased a new position in Conagra Brands during the 4th quarter worth approximately $16,588,000. Daiwa Securities Group Inc. grew its stake in Conagra Brands by 7.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 62,930 shares of the company’s stock worth $1,746,000 after buying an additional 4,435 shares during the last quarter. Independent Advisor Alliance grew its stake in Conagra Brands by 9.5% during the 4th quarter. Independent Advisor Alliance now owns 8,788 shares of the company’s stock worth $244,000 after buying an additional 765 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new position in Conagra Brands during the 4th quarter worth approximately $584,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CAG shares. Evercore ISI lowered their target price on Conagra Brands from $26.00 to $24.00 and set an “in-line” rating on the stock in a research note on Friday. The Goldman Sachs Group downgraded Conagra Brands from a “neutral” rating to a “sell” rating and lowered their target price for the company from $26.00 to $21.00 in a research note on Monday, June 9th. UBS Group reduced their price target on Conagra Brands from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday. Morgan Stanley reduced their price target on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Stifel Nicolaus reduced their price target on Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $22.73.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $19.39 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.23 and a debt-to-equity ratio of 0.70. Conagra Brands has a 1 year low of $18.82 and a 1 year high of $33.24. The business has a fifty day simple moving average of $21.96 and a 200 day simple moving average of $24.45. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 1.83 and a beta of 0.11.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). The business had revenue of $2,781,800 billion for the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, sell-side analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands’s payout ratio is 205.88%.

Conagra Brands 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.