Capital Investment Advisory Services LLC purchased a new stake in shares of Conagra Brands Inc (NYSE:CAG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,215 shares of the company’s stock, valued at approximately $26,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Atria Investments LLC bought a new stake in shares of Conagra Brands during the 3rd quarter worth about $213,000. Bank of Montreal Can boosted its holdings in shares of Conagra Brands by 1.0% during the 3rd quarter. Bank of Montreal Can now owns 466,436 shares of the company’s stock worth $15,844,000 after buying an additional 4,479 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in shares of Conagra Brands by 62.1% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 57,907 shares of the company’s stock worth $1,731,000 after buying an additional 22,190 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Conagra Brands by 18.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 20,965 shares of the company’s stock worth $712,000 after buying an additional 3,191 shares during the period. Finally, First Midwest Bank Trust Division boosted its holdings in shares of Conagra Brands by 9.3% during the 3rd quarter. First Midwest Bank Trust Division now owns 36,583 shares of the company’s stock worth $1,243,000 after buying an additional 3,126 shares during the period. Institutional investors own 70.96% of the company’s stock.
Several analysts recently commented on CAG shares. Barclays reaffirmed a “buy” rating and set a $30.00 target price on shares of Conagra Brands in a report on Sunday, December 23rd. Goldman Sachs Group cut shares of Conagra Brands from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $44.00 price objective on shares of Conagra Brands in a research note on Wednesday, December 19th. TheStreet cut shares of Conagra Brands from a “b-” rating to a “c+” rating in a research note on Monday, December 3rd. Finally, Credit Suisse Group set a $35.00 price objective on shares of Conagra Brands and gave the stock a “hold” rating in a research note on Monday, November 26th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Conagra Brands has an average rating of “Hold” and an average target price of $41.40.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 20th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.55 by $0.12. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Conagra Brands had a net margin of 9.07% and a return on equity of 19.45%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. As a group, research analysts expect that Conagra Brands Inc will post 2.06 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, January 30th will be given a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, January 29th. Conagra Brands’s payout ratio is presently 40.28%.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
Featured Article: What is systematic risk?
Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands Inc (NYSE:CAG).
Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.