Centennial Wealth Advisory LLC Boosts Stock Holdings in Conagra Brands $CAG

Centennial Wealth Advisory LLC grew its position in shares of Conagra Brands (NYSE:CAG) by 30.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 22,604 shares of the company’s stock after purchasing an additional 5,255 shares during the period. Centennial Wealth Advisory LLC’s holdings in Conagra Brands were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC grew its holdings in shares of Conagra Brands by 8.6% during the second quarter. HB Wealth Management LLC now owns 17,341 shares of the company’s stock valued at $355,000 after buying an additional 1,367 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Conagra Brands by 12.6% during the second quarter. V Square Quantitative Management LLC now owns 18,047 shares of the company’s stock valued at $369,000 after purchasing an additional 2,023 shares during the period. Sound Income Strategies LLC lifted its position in Conagra Brands by 6.0% during the second quarter. Sound Income Strategies LLC now owns 155,898 shares of the company’s stock valued at $3,191,000 after purchasing an additional 8,861 shares during the period. Brown Lisle Cummings Inc. lifted its position in Conagra Brands by 15.7% during the second quarter. Brown Lisle Cummings Inc. now owns 4,697 shares of the company’s stock valued at $96,000 after purchasing an additional 636 shares during the period. Finally, Signaturefd LLC lifted its position in Conagra Brands by 161.5% during the second quarter. Signaturefd LLC now owns 25,870 shares of the company’s stock valued at $530,000 after purchasing an additional 15,976 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating on the stock in a research report on Wednesday, September 24th. The Goldman Sachs Group downgraded shares of Conagra Brands from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $26.00 to $21.00 in a research report on Monday, June 9th. JPMorgan Chase & Co. initiated coverage on shares of Conagra Brands in a research report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Finally, Sanford C. Bernstein set a $21.00 price objective on shares of Conagra Brands and gave the company a “market perform” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.83.

Conagra Brands Trading Down 0.9%

Shares of CAG stock opened at $18.02 on Tuesday. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.75 and a beta of 0.07. Conagra Brands has a 1 year low of $17.89 and a 1 year high of $32.90. The firm has a fifty day moving average price of $19.01 and a 200-day moving average price of $21.73. 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 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 $2.78 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 company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. As a group, equities analysts predict that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.8%. Conagra Brands’s dividend payout ratio is currently 58.58%.

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.