MJT & Associates Financial Advisory Group Inc. Makes New Investment in Conagra Brands (NYSE:CAG)

MJT & Associates Financial Advisory Group Inc. purchased a new position in Conagra Brands (NYSE:CAG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAG. Norges Bank purchased a new position in Conagra Brands in the 4th quarter worth approximately $168,877,000. Massachusetts Financial Services Co. MA purchased a new position in Conagra Brands in the 4th quarter worth approximately $110,704,000. Two Sigma Advisers LP lifted its holdings in Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company’s stock worth $225,746,000 after purchasing an additional 2,058,000 shares in the last quarter. Deutsche Bank AG lifted its holdings in Conagra Brands by 51.6% in the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company’s stock worth $157,184,000 after purchasing an additional 1,928,883 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Conagra Brands by 18.5% in the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company’s stock worth $309,728,000 after purchasing an additional 1,745,319 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price target on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 9th. UBS Group dropped their price target on Conagra Brands from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Morgan Stanley dropped their price target on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, July 11th. Evercore ISI dropped their price target on Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. dropped their price target on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average price target of $22.58.

Conagra Brands Price Performance

NYSE:CAG opened at $19.20 on Tuesday. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.84 and a beta of 0.11. The business has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $23.82. Conagra Brands has a 1 year low of $18.67 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24.

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

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.29%. Conagra Brands’s payout ratio is currently 58.58%.

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.