Choreo LLC trimmed its holdings in shares of Conagra Brands (NYSE:CAG – Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,561 shares of the company’s stock after selling 3,532 shares during the period. Choreo LLC’s holdings in Conagra Brands were worth $1,615,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Kennondale Capital Management LLC boosted its holdings in shares of Conagra Brands by 488.0% during the first quarter. Kennondale Capital Management LLC now owns 70,222 shares of the company’s stock worth $1,873,000 after purchasing an additional 58,280 shares during the period. Ignite Planners LLC lifted its holdings in Conagra Brands by 20.7% in the first quarter. Ignite Planners LLC now owns 21,344 shares of the company’s stock worth $569,000 after buying an additional 3,654 shares during the period. Clifford Swan Investment Counsel LLC lifted its holdings in Conagra Brands by 8.3% in the first quarter. Clifford Swan Investment Counsel LLC now owns 232,968 shares of the company’s stock worth $6,213,000 after buying an additional 17,875 shares during the period. HighPoint Advisor Group LLC purchased a new stake in Conagra Brands in the first quarter worth about $324,000. Finally, Miller Financial Services LLC lifted its holdings in Conagra Brands by 11.4% in the first quarter. Miller Financial Services LLC now owns 27,322 shares of the company’s stock worth $729,000 after buying an additional 2,790 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CAG has been the subject of several research analyst reports. Evercore ISI lowered their price objective on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a report on Friday, July 11th. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, July 9th. Morgan Stanley lowered their price objective on shares of Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, July 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.58.
View Our Latest Report on CAG
Conagra Brands Price Performance
Shares of CAG opened at $19.32 on Friday. The company has a market capitalization of $9.23 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 1.88 and a beta of 0.11. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $21.26 and a 200 day moving average of $23.95. Conagra Brands has a twelve month low of $18.67 and a twelve month high of $33.24.
Conagra Brands (NYSE:CAG – Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion for the quarter, compared to the consensus estimate of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. Conagra Brands’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. As a group, equities research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current fiscal year.
Conagra Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands’s dividend payout ratio is presently 58.58%.
Conagra Brands Company Profile
(Free Report)
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.
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