Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Royal Fund Management LLC

Royal Fund Management LLC grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 32.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,862 shares of the company’s stock after purchasing an additional 11,700 shares during the period. Royal Fund Management LLC’s holdings in Conagra Brands were worth $1,419,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Naples Money Management LLC purchased a new stake in Conagra Brands during the 4th quarter worth approximately $26,000. First United Bank & Trust acquired a new stake in Conagra Brands in the fourth quarter valued at $26,000. Advantage Trust Co purchased a new stake in Conagra Brands during the 4th quarter worth about $34,000. Parkside Financial Bank & Trust increased its holdings in shares of Conagra Brands by 48.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after acquiring an additional 454 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in shares of Conagra Brands by 143.3% during the 4th quarter. Bogart Wealth LLC now owns 1,550 shares of the company’s stock worth $44,000 after acquiring an additional 913 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CAG shares. Citigroup increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company boosted their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Barclays raised their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $33.14.

Insider Activity at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG traded up $0.36 during trading hours on Monday, reaching $29.18. The company had a trading volume of 123,228 shares, compared to its average volume of 4,653,354. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $34.50. The firm has a 50 day simple moving average of $30.13 and a 200-day simple moving average of $29.30. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 2.79 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. Research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were given a $0.35 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.80%. Conagra Brands’s dividend payout ratio is currently 70.35%.

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.