1834 Investment Advisors Co. Buys 3,621 Shares of Conagra Brands (NYSE:CAG)

1834 Investment Advisors Co. increased its stake in Conagra Brands (NYSE:CAG) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,453 shares of the company’s stock after purchasing an additional 3,621 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Conagra Brands were worth $3,693,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CAG. World Investment Advisors bought a new position in Conagra Brands in the 4th quarter worth about $268,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Conagra Brands in the fourth quarter worth about $4,430,000. Envestnet Asset Management Inc. lifted its holdings in shares of Conagra Brands by 38.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 891,513 shares of the company’s stock worth $24,739,000 after buying an additional 247,416 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Conagra Brands by 20.2% in the fourth quarter. Wedbush Securities Inc. now owns 8,991 shares of the company’s stock valued at $250,000 after acquiring an additional 1,510 shares during the period. Finally, Federated Hermes Inc. grew its stake in Conagra Brands by 36.7% during the fourth quarter. Federated Hermes Inc. now owns 66,435 shares of the company’s stock valued at $1,844,000 after acquiring an additional 17,827 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 0.8%

Shares of CAG stock opened at $18.95 on Thursday. 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 market cap of $9.05 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.08. The business has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $23.50. Conagra Brands has a 12-month low of $18.18 and a 12-month high of $33.24.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.4%. Conagra Brands’s dividend payout ratio (DPR) is currently 58.58%.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. UBS Group reduced their price target on shares of Conagra Brands from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Morgan Stanley lowered their price objective on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, July 11th. Royal Bank Of Canada reduced their target price on Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Friday, July 11th. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.58.

About Conagra Brands

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.